Answer the following statements true (T) or false (F)
1. The unadjusted trial balance for Prepaid Rent shows a normal balance of $8,000. If $4,000 of rent were used during the period, the adjusted trial balance would show a credit balance of $4,000.
2. The unadjusted trial balance for Unearned Service Revenue shows a normal balance of $2,500. If $1,000 of that revenue was earned during the period, the adjusted trial balance would show a credit balance of $1,500.
3. Revenues, expenses and dividends are called permanent accounts.
4. Assets, Liabilities and Retained Earnings are permanent accounts that are NOT closed at the end of the accounting period.
5. The post-closing trial balance is a listing of the general ledger accounts that have balances at the end of the accounting period.
1. FALSE
2. TRUE
3. FALSE
4. TRUE
5. TRUE
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Indicate whether the statement is true or false
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A. forced ranking B. the MBO process C. 360-degree feedback D. BARS E. an employee evaluation
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