The Main Reason for Preparing a Post-Closing Trial Balance Is

question 54

Multiple Choice

The main reason for preparing a post-closing trial balance is to:

• A) determine if any closing entries have been missed.
• B) determine if any adjusting entries have been missed.
• C) confirm that the ledger is in balance at the start of the new accounting period.
• D) prepare the financial reports.

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Definitions:

Standard Deviations

A measure of the dispersion or variability within a set of data, indicating how much individual data points differ from the mean.

Mean

The average value of a set of numbers, calculated by dividing the sum of the numbers by the count of the numbers.

Normal Curve

A symmetrical bell-shaped curve representing the distribution of values, traits, or characteristics that are normally distributed.

Standard Deviation

A measure of the dispersion or variation in a set of values, indicating how much the values differ from the mean.