Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) A post-closing trial balance should include only permanent accounts.
B) Closing entries are only necessary if errors have been made.
C) By using a work sheet to prepare adjusting entries you need not post these entries to the ledger accounts.
D) Owner's capital must be closed each accounting period.
E) The work sheet can be substituted for preparing financial statements.