What Is the Purpose of the Adjusted Trial Balance

question 194

Multiple Choice

What is the purpose of the adjusted trial balance?

• A) to verify that all of the adjusting entries have been posted
• B) to verify that the net income (loss) is correctly reported
• C) to verify that no adjusting journal entry has been omitted
• D) to verify that the debits and credits balance

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Definitions:

Externalities

The unintended positive or negative consequences of an economic activity on unrelated third parties.

Greenhouse Gas Emissions

The release of gases into the atmosphere that trap heat, leading to global warming and climate change.

Dissipation Rate

The rate at which an economic benefit is eroded or diminished over time, often used in environmental economics and resource management.

Accumulated Stock

The total amount of a particular item or asset gathered or amassed over a period.