Once the Adjusting Entries Are Posted, the Adjusted Trial Balance

question 84

Multiple Choice

Once the adjusting entries are posted, the adjusted trial balance is prepared to

• A) verify that the debits and credits are in balance
• B) verify that the net income correctly flows into the statement of owner's equity from the income statement
• C) verify that the net income (loss) is correct for the period
• D) verify the correct flow of accounts into the financial statements