The post-closing trial balance contains only:
A) income statement accounts.
B) asset and liability accounts.
C) balance sheet accounts.
D) temporary accounts.

Question

Quizplus · Accepted Answer

The post-closing trial balance contains only balance sheet accounts. This is because all temporary accounts, including income statement accounts, have been closed out and their balances have been transferred to the retained earnings account or zeroed out. The only accounts that remain open are permanent balance sheet accounts, such as assets, liabilities, and equity accounts.

The Post-Closing Trial Balance Contains Only