Question

The post-closing trial balance helps to verify that: (Select all that apply.) Multiple select question. we prepared and posted closing entries correctly the accounts are ready for next period's transactions the company was profitable during the current period we prepared and posted adjusting entries correctly

Answer 1

It can be deduced that the post-closing trial balance is important as it verifies that:

• we prepared and posted closing entries correctly.
• the accounts are ready for next period's transactions.

What is a trial balance?

A trial balance simply means the bookkeeping where the balance of all the ledgers are compiled.

The post-closing trial balance is important as it verifies that we prepared and posted closing entries correctly and that the accounts are ready for next period's transactions.

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