The trial balance prepared after all closing entries have been journalized and posted is called the:
A) Work sheet.
B) Adjusted trial balance.
C) General ledger.
D) Unadjusted trial balance.
E) Post-closing trial balance.

Question

Quizplus · Accepted Answer

The post-closing trial balance is prepared after all closing entries have been journalized and posted. It shows only permanent accounts, which have balances after the closing entries have been made. This is the final step in the accounting cycle and is used to verify that total debits equal total credits and that all the temporary accounts have been closed. The other options are incorrect because they refer to different stages in the accounting cycle or include temporary accounts that have been closed.

The Trial Balance Prepared After All Closing Entries Have Been