True/False
An after-closing trial balance consists only of asset, liability, and equity accounts.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q23: If sales are $270,000,expenses are $220,000 and
Q41: Shown below is a trial balance
Q42: The income summary account appears, as stated,
Q44: Dividends declared are an expense and reduce
Q47: Which accounts should be closed?<br>A) Expenses and
Q48: Interim financial statements usually report on a
Q50: The amount of profit (or loss) will
Q64: Of the following,which is not an alternative
Q80: The purpose of the after-closing trial balance
Q124: Dividends are closed out directly to retained