An adjusted trial balance
A) is prepared after the financial statements are completed.
B) proves the equality of the debit balances and credit balances of ledger accounts after all adjustments have been made.
C) is a required financial statement under generally accepted accounting principles.
D) cannot be used to prepare financial statements.

Question

Quizplus · Accepted Answer

An adjusted trial balance is prepared after all adjustments have been made to ledger accounts, and it proves the equality of debit and credit balances. It is not a required financial statement and cannot be used on its own to prepare financial statements.

An Adjusted Trial Balance