When Is a Post-Closing Trial Balance Prepared

question 85

Multiple Choice

When is a post-closing trial balance prepared?

• A) when reversing entries are required
• B) after adjusting entries but before closing entries
• C) after both adjusting and closing entries have been posted
• D) after the balance sheet has been prepared

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Definitions:

Impoverishment

The condition of being poor or lacking the necessary means of subsistence and financial resources.

Adaptation

A series of beneficial adjustments to a particular environment.

Capacity

The ability or potential a system, person, or organization has to perform, produce, contain, or withstand something.

Prestige Economies

Economic systems where the accumulation and display of wealth is not for personal consumption but to gain status and power within a community.