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

Question

Quizplus · Accepted Answer

A post-closing trial balance is prepared after the closing entries have been made and posted to the ledger accounts. It includes only permanent accounts (assets, liabilities, and equity), as temporary accounts have already been closed out. This trial balance is used to verify that the total debits equal the total credits in the permanent accounts, and serves as the basis for preparing financial statements.

A Trial Balance Prepared After the Closing Entries Have Been