The adjusted trial balance should be prepared ______ the financial statements are prepared in order to prove the ______ of the debits and credits.

Question

Quizplus · Accepted Answer

The adjusted trial balance should be prepared before the financial statements are prepared in order to prove the equality of the debits and credits. This is because the adjusted trial balance reflects all the necessary adjustments that have been made to the general ledger accounts, and provides a summary of the balances of all accounts after making these adjustments. By preparing the adjusted trial balance before the financial statements, accountants can ensure that all debits and credits have been properly recorded and that the financial statements will accurately reflect the company's financial position.

The Adjusted Trial Balance Should Be Prepared ______ the Financial