Multiple Choice
Closing entries may be prepared from all of the following except
A) Adjusted balances in the ledger
B) Income statement and balance sheet columns of the worksheet
C) Balance sheet
D) Income and retained earnings statements
Correct Answer:
Verified
Correct Answer:
Verified
Q42: The post-closing trial balance contains only<br>A)income statement
Q43: The step in the accounting cycle that
Q44: The post-closing trial balance is entered in
Q45: Intangible assets are<br>A)listed directly under current assets
Q46: Preparing a worksheet involves<br>A)two steps.<br>B)three steps.<br>C)four steps.<br>D)five
Q48: The following items are taken from the
Q49: A worksheet can be thought of as
Q50: Identify which of the following are temporary
Q51: Assuming that there is a net loss
Q52: Current assets are customarily the first items