A trial balance taken out after the closing process has been completed is called a:
A) final trial balance.
B) adjusted trial balance.
C) closing trial balance.
D) post-closing trial balance.

Question

Quizplus · Accepted Answer

A trial balance taken out after the closing process has been completed is called a post-closing trial balance, which includes only the permanent accounts (assets, liabilities, and equity accounts) and ensures that the total debits equal the total credits. The other options, final trial balance, adjusted trial balance, and closing trial balance, are taken out at different stages of the accounting cycle and include different types of accounts.

A Trial Balance Taken Out After the Closing Process Has