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 real accounts.
C) All ledger accounts with a balance,which include some temporary and some real accounts.
D) Only revenue and expense accounts.
E) Only asset accounts.

Question

Quizplus · Accepted Answer

A post-closing trial balance includes all ledger accounts with a balance, but only permanent accounts (real accounts) such as assets, liabilities, and equity, as temporary accounts (revenues, expenses, and dividends) are closed at the end of the accounting period.

A Post-Closing Trial Balance Shows