Which of the Following Is Not True About the Unadjusted

question 52

Multiple Choice

Which of the following is not true about the unadjusted trial balance?

• A)An unadjusted trial balance may only include a preliminary amount for income tax expense.
• B)An unadjusted trial balance might balance even if there is a mistake.
• C)An unadjusted trial balance does not yet include end-of-the-accounting period adjustments.
• D)An unadjusted trial balance is part of the financial statements issued to external decision makers.

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Definitions:

Current Account Balance

A measure of a country's trade, earnings on foreign investments minus payments to foreign investors, and cash transfers, over a period.

Goods And Services

The combination of tangible products (goods) and intangible activities (services) offered in the marketplace.

Net Transfers

The difference between the total transfers into an economy, such as remittances and foreign aid, and the total transfers out.