1-10 1. The post-closing trial balance is a listing of the general ledger accounts that have balances at the end of the accounting period. True or False 2. Recording Accounts Receivable would be an example of a(n): a. deferred revenue b. deferred expense c. accrued revenue d. accrued expense 3. Wages that have been accrued need to be recorded so that the matching principle is reflected Wages Expense. True of False 4. The Account to which dividends are closed is called: a. Common Stock b. Sales c. Retained Earnings d. Cash 5. Which of the following accounts does NOT go onto the income statement from the adjusted trial balance? a. Sales b. Insurance Expense c. Accounts receivable d. Rent Expense 6. The balance of Retained Earnings on the adjusted trial balance does not represent the final retained earnings balance on the balance sheet True or False 7. The difference between the cost of office equipment and accumulated depreciation office equipment is called: a. market value b. original value c. salvage value d. book value 8. GAAP requires the use of accrual accounting True or False 9. Accounts receivable and accounts payable are examples of accruals True or False 10. Land must be adjusted for depreciation at the end of the period True or False