A trial balance of the general ledger accounts taken after the temporary owner's equity accounts have been closed is usually referred to as a
a. post-closing trial balance.
b. new accounting period trial balance.
c. pre-closing trial balance.
d. subsidiary trial balance.
a
You might also like to view...
In countries, like Japan and much of Europe, fewer differences between the amount of income reported to stockholders and that reported to the taxing authorities exist than in the U.S
a. True b. False Indicate whether the statement is true or false
In which of the following circumstances would an auditor be most likely to express an adverse opinion on a company's financial statements?
a. The client has had significant transactions with related entities that the auditor wants to emphasize. b. The financial statements are not in conformity with FASB requirements regarding the capitalization of leases. c. The auditor is not independent. d. There is substantial doubt about the entity's ability to continue as a going concern.
When should a manager or company grant amnesty for an ethical violation?
a. If the employee was pressured into the violation, amnesty should be granted. b. If the violation was part of company culture, amnesty is encouraged. c. Amnesty should be granted for first offenses. d. It depends on the seriousness of the violation.
The power of administrative agencies is limited by the executive branch through ________
A) the oversight power of the U.S. Congress B) investigative powers of the U.S. Congress C) presidential executive orders D) the power of the president to remove the heads of the agencies