centralgatech.blackboard.com CT1100-FINAN.. (112) How To QUESTION 8 Assets,liabi

Question

centralgatech.blackboard.com CT1100-FINAN.. (112) How To QUESTION 8 Assets,liabilities, and owner's capital are real accounts and do not get closed at the end of the period. O True O False QUESTION 9 The post-closing trial balance will generally have fewer accounts than the trial balance. O True O False QUESTION 10 The income summary account is closed to the owner's capital account. O True False QUESTION 11 The last step of the accounting cycle is to prepare a post-closing trial balance. True False QUESTION 12 Land is an example of a plant asset. True False

Explanation / Answer

1. True

2. True

3.True

4.True the last step is preparing pre closing trial balance

5.True Land is an example of lant Asset

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