Question: Adjustments for prepaid expenses decrease revenues and increase assets. expenses and increase assets. assets and increase revenues. assets and increase expenses. Which statemint is incorrect

Adjustments for prepaid expenses decrease
revenues and increase assets.
expenses and increase assets.
assets and increase revenues.
assets and increase expenses.
Which statemint is incorrect concerning the adjusted trial balance?
The adjusted trial balance provides the primary basis for the preparation of financial statements.
An adjusted trial balance proves the equality of the total debit balances and the total credit balances in the ledger after all adjustments are made.
The adjusted trial balance includes only assets and liabilities.
Adjustments for prepaid expenses decrease revenues and increase assets. expenses and

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