It is the list of accounts with their balances after the closing entries are recorded and posted in the ledger.Select one:a.Nominal accounts or temporary accountsb.Post- closing Trial Balancec.Balance Sheet or Statement of Financial Positiond.Revenue and Expense summary or Income Summary or Profit and Loss Summary

The post-closing trial balance includes which of the following accounts?*a. Permanent (real) accountsb. Temporary (nominal) accountsc. Accounts shown in the income statementd. None of the above.

These are the entries that close out the temporary or nominal accountsSelect one:a.closing entriesb.financial statementsc.trial balanced.adjusting entries

LO 5.2 Which of these accounts is included in the post-closing trial balance?Choose one answer from the options below.A. Sales RevenueB. Salaries ExpenseC. Retained EarningsD. Dividends

When closing the general ledger to determine profit for the reporting period, the following recording must take place.Group of answer choicesAll asset accounts are debited, and liability accounts are credited. Asset accounts are credited in retained earnings and liability accounts are debited in retained earnings.All asset accounts are credited, and liability accounts are debited. Asset accounts are debited in retained earnings and liability accounts are credited in retained earnings.All revenue accounts are debited, and expense accounts are credited. Revenue accounts are credited in retained earnings and expense accounts are debited in retained earnings.All revenue accounts are credited, and expense accounts are debited. Revenue accounts are debited in retained earnings and expense accounts are credited in retained earnings.

Which one of the following best describes a balance sheet? Group of answer choicesA. An account that proves the books balanceB. A statement of assetsC. A listing of balancesD. A record of closing entries