The post-closing trial balance differs from the adjusted trial balance in that it does not
A) take into account closing entries
B) take into account adjusting entries
C) include balance sheet accounts
D) include income statement accounts

Question

Quizplus · Accepted Answer

The post-closing trial balance is prepared after closing entries are made and includes only balance sheet accounts. Income statement accounts (revenues and expenses) have been closed to the capital or retained earnings account and do not appear in the post-closing trial balance.

The Post-Closing Trial Balance Differs from the Adjusted Trial Balance