The major purpose of a post-closing trial balance is to:
A) Prepare the accounting reports
B) Confirm that the ledger is in balance at the start of the new accounting period
C) Determine if any closing entries have been missed
D) Determine if any adjusting entries have been missed
Correct Answer:
Verified
Q4: This is Kululu's year-end trial balance:
Q5: What is the closing entry for drawings
Q6: Closing the accounts refers to:
A)Establishing zero balances
Q7: Closing entries are made:
A)In the ledger only
B)In
Q10: Before calculating the profit for the period,the
Q11: Which of these accounts is closed to
Q12: The balance in the Profit and Loss
Q13: Closing which of these accounts results in
Q14: Accounting entries made to reduce the temporary
Q33: Which of these is not recorded on
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