Author Question: The last step of the accounting cycle is to prepare a post-closing trial balance. a. True b. False ... (Read 63 times)

bio_gurl · **on:** Jul 5, 2018

The last step of the accounting cycle is to prepare a post-closing trial balance.
a. True
b. False

Indicate whether the statement is true or false

Question 2

At their recent board of directors meeting, the County Hospital Board voted to designate 150,000 of current investments toward the renovation of the hospital planned for next year. This designation will be result in

A. A credit to cash.
B. A debit to unrestricted investments.
C. A debit to investmentsdesignat ed for plant replacement.
D. A debit to construction in progress.