The Purpose of the Post-Closing Trial Balance Is to

question 214

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 balance sheet account balances that are carried forward into the next accounting period.
• C) prove the equality of the income statement account balances that are carried forward into the next accounting period.
• D) list all the balance sheet accounts in alphabetical order for easy reference.

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Definitions:

Self-conscious

Experiencing acute awareness of oneself, particularly in social contexts, that can lead to feelings of awkwardness or anxiety.

Impaired Performance

A reduction in the ability to carry out tasks or activities to the usual standard, often due to external or internal factors.

Overcompensation

A psychological mechanism where individuals attempt to counteract feelings of inferiority or a perceived weakness by emphasizing another trait or engaging in excessive behavior.

Use of Fantasy

The engagement with imaginative and often unreal scenarios as a mental escape or a means of creativity.