Chapter 5 Learning Objective 3 Question Title * 1. Which of the following can be prepared by taking the account balances from the general ledger after closing? Income statement Post-closing trial balance Balance sheet Statement of owner's equity Adjusted trial balance OK Question Title * 2. The post-closing trial balance will include Accumulated Depreciation. Depreciation Expense. Drawing. Rent Expense. Income from Services. OK Question Title * 3. Revenue and expenses would not appear on a(n) unadjusted trial balance. adjusted trial balance. income statement. work sheet. post-closing trial balance. OK Question Title * 4. After the temporary accounts are closed, only the real accounts have balances. True False OK Question Title * 5. The purpose of the post-closing trial balance is to make sure the debit balances equal the credit balances before the closing process. True False OK Question Title * 6. The owner's Capital account will always have a zero balance after the closing entries are posted. True False OK Question Title * 7. A post-closing trial balance will include only permanent accounts. True False OK DONE