PRC-1 · Chapter 3 · Question 83 of 100
Which of the following balances are mathematically 'carried down' and 'brought forward' to the subsequent financial year?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Trade Receivables, Machinery, Bank Loan
Explanation
Real and personal accounts representing continuous economic resources and obligations (assets, liabilities, and capital) are balanced at year-end and brought forward into the next period.
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