A list of the accounts and their balances at the end of the period after journalising and posting the closing entries which includes only permanent accounts is called:
A)post-closing trial balance.
B)pre-closing balance sheet.
C)chart of accounts.
D)adjusted trial balance.

Question

Quizplus · Accepted Answer

A post-closing trial balance is a list of the accounts and their balances at the end of the accounting period after all closing entries have been journalized and posted. It includes only permanent accounts, which are those that are not closed at the end of the accounting period. A pre-closing balance sheet is not a term commonly used in accounting, a chart of accounts provides a list of accounts used by the organization and their corresponding numbers, and an adjusted trial balance is prepared before closing entries are made to ensure that the total debits and credits balance.

A List of the Accounts and Their Balances at the End