Which accounts described below would have non-zero balances after the accounts are closed in the general fund of a state or local government?
A)I,II,III.
B)I,II,IV.
C)IV,V,VI.
D)III,IV,V.

Question

Quizplus · Accepted Answer

The accounts that would have non-zero balances after closing in the general fund are typically balance sheet accounts such as assets, liabilities, and fund balance (IV, V, VI).

Which Accounts Described Below Would Have Non-Zero Balances After the Accounts