Tyler works as an accountant for a mid-sized retail store. He has just completed a trial balance that resulted in no unexpected problems. Tyler's next task is likely to be:
A) conducting the full audit.
B) preparing a tax return for the company.
C) preparing the store's balance sheet and other major financial statements.
D) presenting the trial balance to the company owners.

Question

Quizplus · Accepted Answer

After completing the trial balance, Tyler's next logical step would be to prepare the store's balance sheet and other major financial statements. This is because the trial balance is used to ensure that all of the store's accounts are accurately balanced and reconciled. Once this step is complete, Tyler can use the information from the trial balance to generate the necessary financial statements, which will provide a more detailed breakdown of the store's financial situation.

Tyler Works as an Accountant for a Mid-Sized Retail Store