The post-closing trial balance contains only:
A) balance sheet accounts.
B) temporary accounts.
C) income statement accounts.
D) asset and equity accounts.

Question

Quizplus · Accepted Answer

The post-closing trial balance contains only balance sheet accounts because all temporary accounts (such as revenue, expenses, and dividends) have been closed out at the end of the accounting period. Therefore, only permanent accounts (such as assets, liabilities, and equity) remain and are reflected in the post-closing trial balance.

The Post-Closing Trial Balance Contains Only