The major purpose of a post-closing trial balance is to:
A) prepare the accounting reports.
B) confirm that the ledger is in balance at the start of the new accounting period.
C) determine if any closing entries have been missed.
D) determine if any adjusting entries have been missed.

Question

Quizplus · Accepted Answer

The major purpose of a post-closing trial balance is to confirm that the ledger is in balance at the start of the new accounting period, ensuring all temporary accounts have been closed and only permanent accounts remain.

The Major Purpose of a Post-Closing Trial Balance Is To