The Purpose of the Post-Closing Trial Balance Is to

question 34

Multiple Choice

The purpose of the post-closing trial balance is to

• A)prove that no mistakes were made.
• B)prove the equality of the permanent account balances that are carried forward into the next accounting period.
• C)prove the equality of the temporary account balances that are carried forward into the next accounting period.
• D)list all the statement of financial position accounts in alphabetical order for easy reference.

---

Definitions:

Criminal Law

Involves crimes against the state. When a state or federal law is violated, the government brings criminal charges against the alleged offender.

Professional Corporation

A business structure legally recognized that allows licensed professionals, such as doctors or lawyers, to offer their services.

National Practitioner Data Bank

A U.S. database that contains information on medical malpractice payments, sanctions, and licensure actions against healthcare providers.

Health Care Quality Improvement Act

A federal statute enacted to improve the quality of medical care, largely by restricting the ability of physicians with a history of malpractice from moving to another state to escape their history.