Which of the following statements is true of a post-closing trial balance?

Question

Quizplus · Accepted Answer

A post-closing trial balance is prepared after the closing process and only lists the balances of real accounts, which are the asset, liability, and equity accounts. The purpose of the post-closing trial balance is to ensure that the closing process was performed correctly and that the accounts are now ready to be used for the next accounting period. The debits of the post-closing trial balance must always equal its credits, as with any trial balance. Therefore, option A is the correct answer.

Which of the Following Statements Is True of a Post-Closing