List Four Common Types of Output, and Give Examples of Each

question 33

Essay

List four common types of output, and give examples of each.

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to ensure a company's bookkeeping system is mathematically correct.

Accounting Cycle

The comprehensive process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation on the financial statements.

Adjusted Trial Balance

A version of the trial balance that reflects account balances after adjustments are made for accruals, deferrals, and errors.

Unadjusted Trial Balance

A preliminary list of all accounts in the general ledger with their balances to check the equality of debits and credits before adjustments.