The Purpose of Preparing the Post-Closing Trial Balance Is to

question 53

Multiple Choice

The purpose of preparing the post-closing trial balance is to

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

Identify factors indicating E&E assets impairment according to AASB 6/IFRS 6.

Understand subsequent measurement options for E&E assets.

Understand the scope and limitations of AASB 6.

Learn the disclosure requirements for E&E activities and assets.

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Working Conditions

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Corporate Social Responsibility

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