It Is Obvious That an Error Occurred in the Preparation

Multiple Choice

It is obvious that an error occurred in the preparation and/or posting of closing entries if:

A) only permanent accounts appear on the post-closing trial balance.
B) all balance sheet accounts have zero balances.
C) the income summary account is debited for the amount of net income for the period.
D) the owner's capital account is debited for the amount of the net loss for the period.
E) all revenue and expense accounts have zero balances.