Examlex
Match each term with the most appropriate statement.
-MHCs
Current Asset
An asset on the company's balance sheet that is expected to be converted into cash within one year of the reporting date.
Adjusted Trial Balance
A statement that lists all accounts and their balances after adjusting entries are made, used to prepare financial statements.
Unadjusted Trial Balance
A preliminary report listing all the accounts and their balances from the general ledger before any adjusting entries are made to prepare financial statements.
Contra Asset Account
An account on a company's balance sheet that reduces the total amount of the company's asset accounts.
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