Which of the following statements about the post-closing trial balance is correct?
A) The post-closing trial balance will be distributed to investors and other stakeholders along with the financial statements.
B) The post-closing trial balance is an internal report prepared at the end of the accounting cycle.
C) The post-closing trial balance is a report prepared before the adjustments and the financial statements to prove that debits equal credits.
D) The post-closing trial balance proves that all entries have been made correctly and accurately during the accounting period.
Correct Answer:
Verified
Q214: Which of the following steps is performed
Q215: Which of the following trial balances is
Q216: How do temporary accounts differ from permanent
Q217: Which of the following statements about financial
Q218: A closing entry includes a:
A)debit to Sales
Q220: Which of the following statements about the
Q221: The unadjusted trial balance of Sketch
Q222: When it paid its insurance in advance,a
Q223: Match each transaction with the type of
Q224: Match each transaction with the type of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents