A post-closing trial balance is required to be prepared:Group of answer choices

A post-closing trial balance is required to be prepared:

1. After the closing entries have been made: The purpose of the post-closing trial balance is to ensure that all revenue and expense accounts have been closed properly, i.e., their balances have been brought down to zero.

2. To verify the equality of debits and credits: After closing entries, the total of debit balances should equal the total of credit balances. This is a fundamental principle of double-entry bookkeeping.

3. To prepare for the next accounting period: The post-closing trial balance serves as the starting point for the next accounting period. It contains only balance sheet accounts, as all income statement accounts have been closed.

4. To detect any errors: If the total debits do not equal total credits, it indicates that there may be an error in the closing entries.

So, the post-closing trial balance is prepared after the closing entries have been made, to verify the equality of debits and credits, to prepare for the next accounting period, and to detect any errors.