16. The entry to close the Withdrawals account to Capital was omitted. This error would cause. A) the Capital account to be understated. B) net income to be overstated. C) Revenue to be understated. D) the Capital account to be overstated. 17. Which of the following accounts will NOT appear on the post-closing trial balance? A) Accounts Receivable B) Cash C) Accounts Payable D) Withdrawals 18. Which of the following could appear in an adjusting entry, closing entry, and reversing entry? A) Salary Expense B) Withdrawals C) Depreciation Expense, Buildings D) Cash 19. The reversing entry for Salaries is: A) debit Salaries Expense; credit Salaries Payable. B) debit Salaries Payable; credit Income Summary. debit Salaries Payable; credit Salaries Expense. D) debit Salaries Expense; credit Accounts Payable. 20. During times of rising costs, which cost flow assumption will give the highest gross profit A) FIFO B) Weighted Average C) LIFO D) can't be determined