An adjusted trial balance is a listing of all the year-end balance sheet accounts, since all the income statement accounts have been closed to zero.

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An adjusted trial balance includes all the accounts, both balance sheet and income statement accounts, with their adjusted balances, not just the balance sheet accounts. Income statement accounts are not closed to zero until after the adjusted trial balance is prepared, during the closing process.

An Adjusted Trial Balance Is a Listing of All the Year-End