Which of the following statements about an adjusted trial balance is correct?
A)It is used to prepare financial statements.
B)It is prepared to ensure assets equal liabilities.
C)It is prepared at the beginning of the year.
D)It is prepared before the adjusting journal entries have been made.

Question

Quizplus · Accepted Answer

An adjusted trial balance is prepared after all the adjusting journal entries have been made to assure that the debits and the credits are equal.The adjusted trial balance typically is used to prepare the financial statements.

Which of the Following Statements About an Adjusted Trial Balance