An after-closing trial balance consists only of asset,liability,and owners' equity accounts.

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Quizplus · Accepted Answer

This is because the purpose of the after-closing trial balance is to ensure that all the temporary accounts, such as revenue and expense accounts, have been closed and transferred to the retained earnings account. These temporary accounts are not included in the after-closing trial balance, leaving only the permanent accounts of assets, liabilities, and owners' equity.

An After-Closing Trial Balance Consists Only of Asset,liability,and Owners' Equity