Question

The post-closing trial balance shows the balances of only the accounts at the end of the period.

A) TRUE
B) FALSE

Answer 1

The post-closing trial balance shows the final balances of the balance sheet accounts after the closing entries are made.

Step-by-step explanation:

The given statement is False.

The post-closing trial balance is a list of balance sheet accounts that are not closed at the end of the accounting period. It is created after the closing entries are made and shows the final balances of these accounts.

In contrast, the post-closing trial balance doesn't include temporary accounts like revenue, expenses, and dividends, which are closed at the end of the period.