An Adjusted Trial Balance

question 33

Multiple Choice

An adjusted trial balance

• A) is prepared after the financial statements are completed.
• B) proves the equality of the total debit balances and total credit balances of ledger accounts after all adjustments have been made.
• C) is a required financial statement under IFRS.
• D) cannot be used to prepare financial statements.

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Definitions:

Quadri-

A prefix meaning "four," used in medical terms to signify four parts or quadruple.

Extra-

A prefix meaning outside, beyond, or in addition to.

Inside

The inner part or space of something.

Inner

Pertaining to or situated on the inside; internal.