An adjusted trial balance presents account balances in the same level of detail as the financial statements.

Question

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An adjusted trial balance summarizes the balances of all accounts for the general ledger after adjusting entries are made, but it does not present account balances in the same level of detail as the financial statements, which include further classifications and breakdowns such as assets divided into current and non-current, or expenses broken down by nature or function.

An Adjusted Trial Balance Presents Account Balances in the Same