Question Details

The purpose of the post-closing trial balances is to prove the equality of the Statement



1.	The post-closing trial balance only contains Statement of Financial Position account balances.

	2.	The purpose of the post-closing trial balances is to prove the equality of the Statement of Financial Position.

	3.	The order of the accounts in the post-closing trial balance is the same order as the accounts appearing in the Statement of Financial Position.

	4.	The preparation of a Statement of Financial Position is a required step in the accounting cycle.

	5.	Step number 6 in the accounting cycle includes preparation of the Statement of Financial Position.



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