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What the purpose of the post-closing trial balance is to

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Reference no: EM132739379

Problem 1: The purpose of the post-closing trial balance is to

a. Provide account balances for the preparation of balance sheet

b. Ensure that the ledger is in balance for the completion of worksheet

c. Aid journalizing and posting of the closing entries

d. Ensure that the ledger is in the balance for the start of the next period.

Problem 2: Reversing entries are

a. Optional

b. Made to record a change in the corporate objective

c. Required by the generally accepted accounting principles

d. Made prior to preparing a post-closing trial balance

Reference no: EM132739379

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