The financial statements can be prepared from the adjusted trial balance.

Name: The financial statements can be prepared from the adjusted trial balance.
Brand: Quizplus
Rating: 4.8 (51 reviews)

Question

Quizplus · Accepted Answer

The adjusted trial balance contains all the necessary information for the preparation of financial statements. The income statement can be prepared from the revenue and expense accounts, and the balance sheet can be created using the asset, liability, and equity accounts.

The Financial Statements Can Be Prepared from the Adjusted Trial