If all columns of a completed work sheet balance, you can be sure that no errors were made in its preparation.
Correct Answer:
Verified
Q51: The aim of a post-closing trial balance
Q52: Because it is a necessary financial statement,
Q53: On the work sheet, net income is
Q54: All necessary amounts to prepare the balance
Q55: An expense account is normally closed by
Q57: Reversing entries are optional.
Q58: During the closing process, Owner's Capital is
Q59: Normally closing entries are first entered in
Q60: After posting the entries to close all
Q61: Closing the temporary accounts at the end
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