A post-closing trial balance shows
A) All ledger accounts with a balance, none of which can be temporary accounts
B) All ledger accounts with a balance, none of which can be permanent accounts
C) All ledger accounts with a balance, which include some temporary and some permanent accounts
D) Only revenue and expense accounts
E) Only asset accounts

Question

Quizplus · Accepted Answer

A post-closing trial balance includes all ledger accounts that have a balance after closing entries are made. Temporary accounts (revenues, expenses, dividends) are closed to Retained Earnings, so they have a zero balance and are not included. Only permanent accounts (assets, liabilities, equity) appear on a post-closing trial balance.

A Post-Closing Trial Balance Shows