The purpose of a post-closing trial balance is: a. To list all permanent accounts and their balances

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The purpose of a post-closing trial balance is:

a. To list all permanent accounts and their balances after all closing entries are posted

b. To list all temporary accounts and their balances after all closing entries are posted

c. To record all year-end balances of accounts at the end of an accounting period

d. To prepare financial statements at the end of an accounting period

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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