A post-closing trial balance reports:
A) All ledger accounts with balances, none of which can be temporary accounts.
B) All ledger accounts with balances, none of which can be permanent accounts.
C) All ledger accounts with balances, which include some temporary and some permanent accounts.
D) Only revenue and expense accounts.
E) Only asset accounts.

Question

Quizplus · Accepted Answer

A post-closing trial balance includes all ledger accounts with balances after closing entries have been made. Temporary accounts (revenues, expenses, dividends) have been closed to Retained Earnings, so they have zero balances and are not included. Only permanent accounts (assets, liabilities, equity) with balances are reported.

A Post-Closing Trial Balance Reports