Question

Question 13 Not yet answered Marked out of 1.00 Flag question What statement(s) below is(are) true? Select one: a. The total of the debit column in a post-closing trial balance will always equal the total assets on the current balance sheet. b. The post-closing trial balance presents the balances of all the permanent accounts of a company. C. The balance of the retained earnings account is the only permanent account whose balance changes from that in the adjusted trial balance. d. Both B and C. e. A, B, and C.

Answer 1

Correct answer-----------(d) Both B and C

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When post closing trial balance is prepared all the temporary accounts are already closed and the accounts remaining are permanent accounts. The debit column of post closing trial will be equal to credit of post closing trial balance.