A trial balance produced after the completion of the closing process is called a:
A) ending trial balance.
B) completed trial balance.
C) post-closing trial balance.
D) closed trial balance.

Question

Quizplus · Accepted Answer

The post-closing trial balance is prepared after the closing process has been completed, and it shows the balance of all accounts, including only permanent accounts that are not closed at the end of the accounting period. The purpose of this trial balance is to verify that the closing entries were done correctly and to provide a starting point for the next accounting period. The other options listed are not correct as there is no such thing as an "ending trial balance," a "completed trial balance," or a "closed trial balance."

A Trial Balance Produced After the Completion of the Closing