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Select the statements below that describe the purpose of a post-closing trial balance.
One purpose is to verify that total debits equal total credits for all temporary accounts.
One purpose is to confirm that if debits equal credits then no errors in journalizing and
positing occurred during the period.
One purpose is to verify that all permanent accounts have zero balances.
One purpose is to verify that all temporary accounts have zero balances.
One purpose is to verify that total debits equal total credit for permanent accounts.



Answer :

GinnyAnswer

Final answer:

The post-closing trial balance aims to verify total debits equal total credits for temporary accounts, confirm error-free journalizing and posting, and ensure zero balances for permanent accounts.


Explanation:

The purpose of a post-closing trial balance is to:

  1. Verify that total debits equal total credits for all temporary accounts.
  2. Confirm that if debits equal credits then no errors in journalizing and posting occurred during the period.
  3. Verify that all permanent accounts have zero balances.

Learn more about Post-Closing Trial Balance here:

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