Which of the following statements is true?
A)Adjusting entries are recorded after the closing entries have been recorded.
B)The balance in the retained earnings account in the trial balance will equal the retained earnings balance on the balance sheet after closing entries have been posted to the general ledger.
C)Debits are equal to credits only after closing entries have been made.
D)Equal totals in a trial balance guarantees that no errors were made in the recording process.

Question

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Prior to posting closing entries, the balance in the retained earnings account will be the balance at the beginning of the accounting perio

Which of the Following Statements Is True