In a modern corporate environment, the trial balance is prepared from the
A)financial statements.
B)computerized accounting systems.
C)journals.
D)subsidiary ledgers.
E)chart of accounts.

Question

Quizplus · Accepted Answer

In a modern corporate environment, most accounting functions are performed using computerized accounting systems. These systems automatically generate a trial balance by compiling data from various modules and ledgers, making it the best choice for preparing a trial balance in a modern corporate environment. The financial statements, journals, subsidiary ledgers, and the chart of accounts are important components of the accounting process, but they are not typically used to prepare a trial balance in a modern corporate environment.

In a Modern Corporate Environment, the Trial Balance Is Prepared