Select the correct statement from the following:
A)If the trial balance debits equal the trial balance credits, adjusting entries are not necessary.
B)Adjusting entries are made after the adjusted trial balance report is printed.
C)Accounts payable information in detail can be found in both the general ledger and the accounts payable subsidiary ledger.
D)Financial statements must be prepared before the closing entries are journalized.

Question

Quizplus · Accepted Answer

The Answer of Select the correct statement from the following:
A)If the trial balance debits equal the trial balance credits, adjusting entries are not necessary.
B)Adjusting entries are made after the adjusted trial balance report is printed.
C)Accounts payable information in detail can be found in both the general ledger and the accounts payable subsidiary ledger.
D)Financial statements must be prepared before the closing entries are journalized.

Select the Correct Statement from the Following