Which of the Following Statements Is Incorrect

question 125

Multiple Choice

Which of the following statements is incorrect?

• A) An unadjusted trial balance is a list of accounts and balances prepared before adjustments are recorded.
• B) An adjusted trial balance is a list of accounts and balances prepared after adjusting entries have been recorded and posted to the ledger.
• C) Each trial balance amount is used in preparing the financial statements.
• D) Financial statements should be prepared directly from information in the unadjusted trial balance.
• E) Financial statements can be prepared directly from information in the adjusted trial balance.

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Definitions:

Self-Management

The ability to regulate one’s behavior, emotions, and thoughts in a way that is productive and conducive to achieving personal goals.

Upward Feedback

A process where employees provide feedback on their supervisor's performance, leadership style, and management practices.

Low-Risk Situations

Scenarios or environments where there is minimal chance of failure, harm, or loss, often used for training or practicing new skills.

Reflect On Performance

The act of assessing and considering one's own work or behavior in order to learn from experiences and improve future outcomes.