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:

Lord Kelvin

A title for William Thomson, a prominent 19th-century physicist known for his work in thermodynamics and for developing the Kelvin scale of temperature.

Million Years Old

A term used to describe the age of geological formations, fossils, or the time since evolutionary events, measured in millions of years.

Thousand Years Old

Describes an object, organism, or structure that has existed for approximately one millennium.

Strategic Alliances

Formal agreements between two or more parties to pursue a set of agreed-upon objectives while remaining independent organizations.