The post-closing trial balance is best prepared from the
A) general ledger.
B) general journal and the general ledger.
C) general ledger and the financial statements.
D) financial statements.
E) income statement.

Question

Quizplus · Accepted Answer

The post-closing trial balance is prepared after all the temporary accounts have been closed and only the permanent accounts remain. Since the general ledger contains all of the permanent accounts and their balances, it is the best source for preparing the post-closing trial balance.

The Post-Closing Trial Balance Is Best Prepared from the