A Trial Balance Prepared After Adjustments Have Been Recorded Is

question 121

Multiple Choice

A trial balance prepared after adjustments have been recorded is called a(n)

• A) Balance sheet.
• B) Adjusted trial balance.
• C) Unadjusted trial balance.
• D) Classified balance sheet.
• E) Unclassified balance sheet.

---

Definitions:

Circular-Flow Diagram

A visual model of the economy that shows the flow of money, goods and services, and factors of production between households and businesses.

Firms

Businesses or companies that produce goods or provide services with the aim of making a profit.

Resources

Assets and inputs used to produce goods and services, such as time, labor, capital, and natural resources.

Factor Market

The marketplace for services of the factors of production (labor, land, capital) where these are bought and sold.