Which statement about post-closing trial balance is not true

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Problem 1: Which of the following statements about the post-closing trial balance is not true?

Option 1: It proves that all necessary transactions have been recorded.

Option 2: It shows that the journalizing and posting of closing entries have been properly completed.

Option 3: It contains only permanent accounts.

Option 4: It shows that the basic accounting equation is in balance.

Reference no: EM132882907

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