(Multiple Choice) In a post-closing trial balance: A. debits should equal credits.. B. no balances remain in the Dividends, Revenue, and Expense accounts.
Question
7. (Multiple Choice)In a post-closing trial balance:A. debits should equal credits.. B. no
balances remain in the Dividends, Revenue, and Expense accounts. C. Retained earnings includes net income. D. All of the above. E. None of these.
8. (True or False)
In preparing a bank reconciliation, outstanding checks should be added back to the ending balance per the bank statement.
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