All of the following statements about the post-closing trial balance are correct except it

a. provides evidence that the journalizing and posting of closing entries have been properly completed.

b. contains only permanent accounts.

c. proves that all transactions have been recorded.

d. shows that the accounting equation is in balance.

Question

Business

Diva

18 April, 22:14

All of the following statements about the post-closing trial balance are correct except it

a. provides evidence that the journalizing and posting of closing entries have been properly completed.

b. contains only permanent accounts.

c. proves that all transactions have been recorded.

d. shows that the accounting equation is in balance.

+4

Answers (1)

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Maribel Mccormick · Answer 1

C

Explanation:

Post-closing trial balance does not proves that all the transactions have been recorded and also it does not prove that the ledger is correct.

Because:

The post-closing trial balance will be balanced even if a journalized transaction is posted twice or a transaction is not journalized but, posted.