The post-closing trial balance is a list of all accounts and their balances at a particular date after the account balances have been updated for closing entries.

Question

Quizplus · Accepted Answer

This statement is true. The post-closing trial balance is prepared after the closing entries have been made and all temporary accounts have been closed to the retained earnings account. It shows the balances of all permanent accounts at the end of the accounting period.

The Post-Closing Trial Balance Is a List of All Accounts