Once the Adjusting Entries Are Posted, the Adjusted Trial Balance

question 55

Multiple Choice

Once the adjusting entries are posted, the adjusted trial balance is prepared to

• A) verify that the debits and credits are in balance
• B) verify that the net income correctly flows into the statement of stockholders' equity from the income statement
• C) verify that the net income (loss) is correct for the period
• D) verify the correct flow of accounts into the financial statements

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Definitions:

RAM

Random Access Memory, a type of computer memory that can be accessed randomly and is used for storing running programs and temporary data.

CPU

The Central Processing Unit, the primary component of a computer that performs most of the processing inside a computer.

Open Source

Pertaining to software whose source code is made freely available for modification and distribution.

Network Servers

Computers dedicated to managing network resources, serving requests for data, applications, and services from clients.