Which of the following statements is incorrect concerning an adjusted trial balance? a. An adjusted trial balance
Question:
Which of the following statements is incorrect concerning an adjusted trial balance?
a. An adjusted trial balance lists account balances and their locations in the ledger.
b. An adjusted trial balance shows proper balance sheet and income statement amounts.
c. An adjusted trial balance is prepared before the adjusting entries have been journalized and posted.
d. An adjusted trial balance can be used to prepare the financial statements.
e. All of the above are true statements.
Step by Step Answer:
Adjusted trial balance The adjusted trial balance lis...View the full answer
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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