A post-closing trial balance will show

Question

Quizplus · Accepted Answer

A post-closing trial balance only shows statement of financial position accounts, as income statement accounts have already been closed out to retained earnings during the closing process. The purpose of the post-closing trial balance is to ensure that all income statement accounts have been closed and that the statement of financial position accounts have accurate balances to start the next accounting period. Therefore, choice D is the best answer.

A Post-Closing Trial Balance Will Show