What two types of records does the Exceptions to Closing Date report show?

The Exceptions to Closing Date report is crucial for maintaining the integrity of financial records after a closing date has been set. When choosing the correct response, it's important to focus on how the report functions in relation to transaction dates and adjustments made post-closing.

This specific report displays all changes made to transactions that were dated before the closing date, as it helps identify any alterations that could affect previously closed accounting periods. It is designed to highlight changes that occur “after the books were closed,” ensuring that any adjustments that could impact financial reporting or audit trails are documented and reviewed.

This proactive approach allows accountants and financial professionals to maintain accurate records and ensure compliance with accounting standards, as they can see what has been modified post-closing and assess the implications of those changes.

In contrast, other options do not align correctly with the purpose and functions of the Exceptions to Closing Date report, as they either refer to changes made during inappropriate time frames or do not accurately convey the nature of the transactions it covers. Understanding the specific time frames and the context of transaction changes is essential for effective financial oversight and audit readiness.