A trial balance prepared after the adjusting and closing entries have been posted, and which is the final step in the accounting cycle, is a(n):
A)Post-closing trial balance.
B)Adjusted trial balance.
C)Book of final entry.
D)Unadjusted trial balance.
E)Work sheet.

Question

Quizplus · Accepted Answer

A post-closing trial balance is prepared after all adjusting and closing entries have been made and is the final step in the accounting cycle. It reflects the balances of all accounts after the closing process and only includes permanent accounts. Therefore, it is the most appropriate choice for this scenario.

A Trial Balance Prepared After the Adjusting and Closing Entries