For each answer for each question (A, B, C and D) give details why the answer is not correct or wrong.

i7. Which of the following statements regarding financial statements and trial balances is coreet? A. A post-closing trial balance should be prepared before temporary accounts are closed B An adjusted trial balance reflects the amount of retained earnings to be shown on the Balance Sheet. C. A trial balance assures us that all external entries have been correctly recorded. D., Financial statements are prepared from the information on the adjusted trial balance Deleted 18. Financial accounting and reporting standards in the United States are established primarily by the: A. International Accounting Standards Board (IASB). B. Financial Accounting Standards Board (FASB) C. Securities and Exchange Commission (SEC). D. US. Congress. 19. Dividends represent A. Amounts owed to creditors B. The difference between the assets and liabilities of a c ompany C.. A decrease in the equity of a company 20. The following table contains financial information for Comey's Inc.ontheir adjusted trial balance before Nori Pearsen Deleted:1 ntries: %26,000 3,500 5,000 10,000 5,000 45,000 15,000 8,000 7,000 75,000 6,000 Rent 19. upplies of Goods Sold vice Revenue isccllancous Expense vidends ounts Payable Stock etained Earnings 6,000 45,000-10,000-15,000-8,000+75,000-93,000 What is the amount of Comey's total stockholders' equity reported on the balance sheet? Nori Pesrncn Deleted 4.500+30,000-20,000-3,000+8,000-10,500 A. $85,000 C $93,000. B. $18,000 D. $12,000, Deleted0 21. Of the following six (1) Uncarned Revenue. accounts, which ones are accounts with permanent (4) Cost of Goods Sold. Deletedt