Post-Closing Trial Balance: Preparation & Purpose


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question 1 of 3

The report that lists all the accounts of a company and their balances after all adjustments and closing entries have been made is called the _____.

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1. _____accounts are accounts that once opened will always be a part of a company's chart of accounts.

2. _____ accounts are those accounts that are not always a part of a company's chart of accounts.

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About This Quiz & Worksheet

This quiz and attached worksheet will help to gauge your understanding of post-closing trial balance. Topics you will need to know in order to pass the quiz include the names of different account types.

Quiz & Worksheet Goals

Use these assessment tools to assess your knowledge of:

  • A report listing all accounts of a company and their balances after adjustments and closing entries
  • Different types of accounts
  • When the balances are zeroed out in temporary accounts
  • The goal of a post-closing trial balance

Skills practiced

This worksheet and quiz let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the post-closing trial balance lesson
  • Interpreting information - verify that you can read information regarding the various types of accounts and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about the goal of a post-closing trial balance

Additional Learning

To learn more about this topic, review the lesson called Post-Closing Trial Balance: Preparation & Purpose, which covers the following objectives:

  • Understand why the post-closing trial balance is important
  • Compare and contrast trial balance and adjusted trial balance
  • Explore the differences between accounts and temporary accounts