Which Statement Is Not Correct

question 88

Multiple Choice

Which statement is not correct?

• A)the post-closing trial balance reports the ending balance of each account in the general ledger
• B)one purpose of preparing the unadjusted trial balance is to ensure that debits equal credits
• C)financial statements are prepared based on the unadjusted trial balance
• D)the unadjusted trial balance reports control account balances but omits subsidiary ledger detail

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Definitions:

European American

An American citizen or resident who is of European descent.

Cyclothymic Disorder

A mood disorder characterized by periods of hypomanic symptoms as well as periods of depressive symptoms that are not severe enough to qualify as major depressive episodes.

Hypomanic Symptoms

Characteristics of hypomania, including elevated mood, increased activity or energy levels, and often excessive risk-taking, without the severity of full mania.

Mild Depressive Symptoms

Less severe forms of depressive symptoms that may include sadness, irritability, or fatigue, but do not fully meet the criteria for major depression.