A list of the accounts and their balances at the end of the period,after journalizing and posting the closing entries,is called ________.
A) chart of accounts
B) adjusted trial balance
C) post-closing trial balance
D) pre-closing balance sheet

Question

Quizplus · Accepted Answer

The post-closing trial balance is a list of all accounts and their balances after the closing entries have been journalized and posted. This balance ensures that all temporary accounts have been closed and the ledger accounts are up to date. Choice A) Chart of accounts is a list of all accounts used by a company, not their balances. Choice B) Adjusted trial balance is a list of accounts and their balances after adjusting entries have been recorded and posted. Choice D) Pre-closing balance sheet is not a common accounting term.

A List of the Accounts and Their Balances at the End