Author Question: Liabilities are increased with credit entries. Indicate whether the statement is true or ... (Read 28 times)

swpotter12 · **on:** Jul 5, 2018

Liabilities are increased with credit entries.

Indicate whether the statement is true or false

Question 2

What is the purpose of the post-closing trial balance?
a. to prove no errors were made while recording entries in the journal
b. to prove the equality of the debit and credit balances in the general ledger accounts
c. to prove the closing entries were recorded correctly in the journal
d. to prove the balances in the general ledger accounts are correct