What critical purpose does the adjusted trial balance serve? A. It proves that transactions have been posted
Question:
What critical purpose does the adjusted trial balance serve?
A. It proves that transactions have been posted correctly
B. It is the source document from which to prepare the financial statements
C. It shows the beginning balances of every account, to be used to start the new year’s records
D. It proves that all journal entries have been made correctly.
Step by Step Answer:
A It proves that transactions have been posted correctly The adjusted t...View the full answer
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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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