Asked by Terriona Hamilton on May 22, 2024

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The post-closing trial balance will generally have fewer accounts than the trial balance.

Post-closing Trial Balance

A summary of all the business accounts after the closing entries are made at the end of the accounting period, ensuring the accounts are balanced.

Trial Balance

A summary listing of the titles and balances of accounts in the ledger, which is used to verify that debits equal credits.

  • Identify what is included in a post-closing trial balance.
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Rafael GonzalezMay 25, 2024
Final Answer :
True
Explanation :
The post-closing trial balance only includes balance sheet accounts, which are the accounts that are not closed at the end of the accounting period. In contrast, the trial balance includes all accounts, including temporary accounts such as revenue and expenses, which are closed at the end of the accounting period. As a result, the post-closing trial balance will generally have fewer accounts than the trial balance.