Which of the Statements Below Is Not True

question 11

Multiple Choice

Which of the statements below is not true?

• A)An adjusted trial balance should show ledger account balances.
• B)An adjusted trial balance can be used to prepare financial statements.
• C)An adjusted trial balance proves the mathematical equality of debits and credits in the ledger.
• D)An adjusted trial balance is prepared before all transactions have been journalized.

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Definitions:

Exhausts

Refers to resources or supplies being completely used up or depleted.

Bananas

A tropical fruit with a yellow skin and soft, sweet flesh, often grown in clusters on large plants resembling trees.

Marginal Opportunity Cost

The cost of forgoing the next best alternative when choosing between two options.

Production Possibilities Schedule

A table that shows the different combinations of various goods that a country can produce with given resources and technology.