Which of These Is Not a Purpose of a Post-Closing

question 45

Multiple Choice

Which of these is not a purpose of a post-closing trial balance?

• A) Testing for the equality of debits and credits in the general ledger.
• B) Making sure the ledger is correct as the starting point for the next financial period.
• C) Checking that all the revenue and expense accounts have been closed-off.
• D) Finding out how much profit the entity has made.

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Definitions:

Franklin D. Roosevelt

The 32nd President of the United States, serving from 1933 to 1945, known for leading the country through the Great Depression and World War II with his New Deal programs.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the Great Depression.

Predecessor

An individual or entity that held a position or office before the current holder.

Election

A formal group decision-making process by which a population chooses an individual or multiple individuals to hold public office.