The post-closing trial balance is prepared to prove the equality of debits and credits in the ledger after closing entries have been journalized and posted.

Question

Quizplus · Accepted Answer

This statement is true. The post-closing trial balance is prepared after the closing entries have been journalized and posted to ensure that all temporary accounts have been closed and the permanent accounts have the correct balances. It confirms the equality of debits and credits in the ledger after the closing process has been completed.

The Post-Closing Trial Balance Is Prepared to Prove the Equality