A post-closing trial balance.
A)includes temporary accounts only.
B)includes permanent accounts only.
C)includes both temporary and permanent accounts.
D)may include expenses.

Question

Quizplus · Accepted Answer

A post-closing trial balance includes permanent accounts only because temporary accounts are closed at the end of the accounting period. It is prepared after the closing entries have been made to ensure that all temporary accounts have been closed and the balances of permanent accounts are accurate. Expenses are temporary accounts and would have been closed out before the post-closing trial balance is prepared.

A Post-Closing Trial Balance