Multiple Choice
Closing entries are dated in the journal as of
A) the date they are actually journalized, although they are generally prepared after the end of the accounting period
B) the last day of the accounting period
C) the first day of the accounting period, although they are actually journalized well after the beginning of the accounting period
D) the first day of the subsequent accounting period
Correct Answer:

Verified
Correct Answer:
Verified
Q7: The trial balance prepared after all the
Q52: Kirk Enterprises offers rug cleaning services to
Q53: The first item appearing on the retained
Q54: The income statement is prepared from<br>A) the
Q55: Once the adjusting entries are posted, the
Q59: Working capital is the ratio of the
Q60: Prepaid expenses that benefit a relatively short
Q61: Closing entries are entered directly on the
Q120: Prepaid Insurance is an example of a
Q202: Real accounts are not permanent accounts.