The post-closing trial balance includes only permanent accounts.

• A. Only permanent accounts
• B. Only temporary accounts
• C. All accounts including both permanent and temporary
• D. None of the above

Answer: (A)

After closing entries are posted, only the balance sheet accounts remain with balances that will carry into the next period. Revenue, expense, and drawing/dividend accounts are closed to zero, and their effects are transferred to permanent equity (such as retained earnings). Because of that, the post-closing trial balance lists assets, liabilities, and permanent equity accounts only, ensuring the ledger is ready for the new period.