1) If a company forgets to make an adjusting entry relating to a deferred revenue, which of the following would NOT be true?

A) Revenues would be understated

B) Retained earnings would be overstated

C) Liabilities would be overstated

D) Stockholders' Equity would be understated

2) The account balances on the post-closing trial balance should match the balances in the:

A) general journal

B) general ledger

C) Statement of Retained Earnings

D) Income Statement