Which of the Following Trial Balances Is Used as a Source

question 112

Multiple Choice

Which of the following trial balances is used as a source for preparing the income statement?

• A)Unadjusted trial balance
• B)Pre-adjusted trial balance
• C)Adjusted trial balance
• D)Post-closing trial balance

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Definitions:

Voidable

A legal term indicating that a contract or transaction can be legally canceled or annulled by one of the parties.

Legally Binding Contract

A legally binding contract is an agreement between parties that is enforceable by law, meaning each party has legal obligations they must fulfill.

Mental Defect

A condition involving cognitive impairment or significant loss of intellectual functioning, which can impact legal responsibilities and rights.

Incapacity

Lacking the ability, power, or legal qualification to act, make decisions, or give consent.