After posting the closing entries, which of the following accounts is most likely NOT to have a zero balance?
A) Prepaid Insurance Expense
B) Advertising Expense
C) J. Taylor, Withdrawals
D) Medical Fees Earned

Question

Quizplus · Accepted Answer

Prepaid Insurance Expense is an asset account representing payments made in advance for insurance coverage, and it typically does not have a zero balance after posting closing entries because it reflects future insurance coverage periods.

After Posting the Closing Entries, Which of the Following Accounts