Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 42)
What is the purpose of a post-closing trial balance?
To list all transactions for the period.
To check that debits equal credits after closing entries are posted.
To prepare the income statement.
To record the adjusting entries.
Explanation
The post-closing trial balance verifies that the general ledger is still balanced after closing entries.
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