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Mila [183]
2 years ago
15

The post-closing trial balance helps to verify that: (Select all that apply.) Multiple select question. we prepared and posted c

losing entries correctly the accounts are ready for next period's transactions the company was profitable during the current period we prepared and posted adjusting entries correctly
Business
1 answer:
Artyom0805 [142]2 years ago
4 0

It can be deduced that the post-closing trial balance is important as it verifies that:

  • we prepared and posted closing entries correctly.
  • the accounts are ready for next period's transactions.

<h3>What is a trial balance?</h3>

A trial balance simply means the bookkeeping where the balance of all the ledgers are compiled.

The post-closing trial balance is important as it verifies that we prepared and posted closing entries correctly and that the accounts are ready for next period's transactions.

Learn more about trial balance on:

brainly.com/question/24696035

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Which best describes what happens to the amount of a good or service that is supplied to consumers? The amount of a good or serv
Debora [2.8K]

The amount of a service cannot change. But the quality of a service can change positively or negatively

3 0
3 years ago
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Why is it important for organizations to accurately estimate the demand for a good or​ service? A. To decrease the fixed costs o
Yuki888 [10]

Answer:

B. To plan​ production, marketing, and budgets

Explanation:

A company needs to know accurately the demand for a good or service because it has to determine what kind of customer it is and plan the marketing accordingly. Additionally, that information will be valuable in planning plan its production volume. And afterward, with that information in hands, knowing fixed and varied costs, marketing costs and others, plan the budget accordingly. Pricing, fixed costs, demand slope, and potential sales will be determined by other factors that can include but are not limited to demand estimation.  

4 0
3 years ago
Notes payable due in six months are reported as
alexira [117]

A short-term liability is a payment that is due in 12 months or less. Hence notes payable due in six months is reported as a short-term liability.

<h3>What is a liability?</h3>

In the parlance of Accounting and Finance, a Liability is a financial obligation that the company owes to individuals, or organizations with which it has transactional or legal relationship.

Hence, it is correct to indicate that notes payable due in six months is reported as a short-term liability.

Learn more about liability at;
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3 0
2 years ago
g Which one of these will increase the present value of a set amount to be received sometime in the future? A) Increase in the t
alisha [4.7K]

Answer:

Decrease in the interest rate

Explanation:

Present value is the sum of discounted cash flows

let me use an example to illustrate

the present value of $100 in year 0 discounted at 6% = $100

the present value of $100 one year from now discounted at 6% = $94.33

the present value of $100 two years from now discounted at 6% = $89

We can see that present value decreases with an increase in time

2. the present value of $100 one year from now discounted at 6% = $94.33

the present value of $90 one year from now discounted at 6% = $84.91

We can see that present value decreases with a decrease in the future value.

3.  the present value of $100 one year from now discounted at 6% = $94.33

the present value of $100 one year from now discounted at 5% = $95.24

We can see that the lower the discount rate, the higher the present value

7 0
3 years ago
A company's prospectus includes:
vivado [14]
A. “provides details about an investment offering”
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2 years ago
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