Can Financial Statements Be Prepared Directly from the Adjusted Trial

question 225

Multiple Choice

Can financial statements be prepared directly from the adjusted trial balance?

• A)They cannot.The general ledger must be used.
• B)Yes, the adjusted trial balance shows the adjusted balances from the general ledger.
• C)No, the adjusted trial balance merely proves the equality of the total debit and total credit balances in the ledger after adjustments are posted.It has no other purpose.
• D)They can because that is the only reason that an adjusted trial balance is prepared.

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Definitions:

Human Resource Planning

The strategic process of forecasting an organization's future human resource needs and developing plans to meet those needs.

Specific Order

A production strategy where goods or services are produced based on specific customer orders rather than for stock.

Future Human Resource Demand

The projected need for employees and skills in an organization to meet its objectives in the future.

Delphi Technique

The soliciting of predictions about specified future events from a panel of experts, using repeated surveys until convergence in opinions occurs.