What Is the Purpose of the Post-Closing Trial Balance

question 76

Multiple Choice

What is the purpose of the post-closing trial balance?

• A) to prove no errors were made while recording entries in the journal
• B) to prove the equality of the debit and credit balances in the general ledger accounts
• C) to prove the closing entries were recorded correctly in the journal
• D) to prove the balances in the general ledger accounts are correct

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Definitions:

Binomial Formula

A mathematical formula used to calculate the probability of obtaining a given number of successes in a binomial experiment.

Random Sample

A subset of individuals chosen from a larger set (population) where each individual has an equal probability of being selected, ensuring the sample’s representativeness of the population.

Binomial Random Variable

A random variable that follows a binomial distribution, representing the number of successes in a fixed number of independent Bernoulli trials with the same probability of success.

Variance

Variance is a statistical measure that represents the degree of spread in a data set. It is calculated as the average of the squared differences from the Mean.