after the closing entries are prepared and posted:\n\na. all liability accounts will have a zero…

after the closing entries are prepared and posted:\n\na. all liability accounts will have a zero balance.\nb. the temporary accounts will have debit balances.\nc. all asset accounts will have a zero balance.\nd. the retained earnings account will have the correct ending balance.

after the closing entries are prepared and posted:\n\na. all liability accounts will have a zero balance.\nb. the temporary accounts will have debit balances.\nc. all asset accounts will have a zero balance.\nd. the retained earnings account will have the correct ending balance.

Answer

Brief Explanations:

Closing entries transfer the balances of temporary accounts (such as revenue, expense, and dividend accounts) to the Retained Earnings account. Liability and asset accounts are permanent accounts and their balances are carried forward. Temporary accounts should have a zero balance after closing entries. The Retained Earnings account is updated to reflect the net income (or loss) and dividends, thus having the correct ending balance.

Answer:

D. the Retained Earnings account will have the correct ending balance.