Which of the following is the usual final step in the accounting cycle?
A) Journalizing transactions.
B) Preparing an adjusted trial balance.
C) Preparing a post-closing trial balance.
D) Preparing the financial statements.
E) Preparing a work sheet.
C) Preparing a post-closing trial balance.
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Answer the following statement true (T) or false (F)
Discuss the difference between business events that are transactions and those that are not. Why is the distinction important?
When is a criminal said to be judgment proof?
A. when the criminal has not been read his Fifth Amendment rights prior to his arrest B. when the criminal does not have the money to pay a civil judgment C. when the criminal is found to be unfit to go to prison D. when the criminal has been deemed to be insane
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Indicate whether the statement is true or false