A list of all accounts and their balances after posting closing entries is referred to as:
A)A trial balance.
B)An adjusted trial balance.
C)A post-closing trial balance.

Question

Quizplus · Accepted Answer

A post-closing trial balance is prepared after all closing entries have been posted, and it shows the balances of all accounts that are not related to the closing process. This balance is used to verify that the ledger is in balance and to begin the next accounting period. Option A, a trial balance, is prepared before closing entries are posted. Option B, an adjusted trial balance, is prepared after adjusting entries are posted but before closing entries are posted.

A List of All Accounts and Their Balances After Posting