When Accounts Do Appear on the Unadjusted Trial Balance but Are

question 107

True/False

When accounts do appear on the unadjusted trial balance but are needed to post adjustments, they are simply added to the account title column.

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Definitions:

Deductible IRA Contribution

A contribution to an Individual Retirement Account that can be subtracted from gross income for tax purposes.

Pension Plan

Pension Plan is a type of retirement plan where an employer contributes to a pool of funds set aside for employees' future benefit, distributed upon retirement.

Single Life Annuity Contract

An insurance policy that provides a fixed or variable payment to an annuitant at regular intervals for their lifetime.

Tax-free Amount

An amount or income received that is not subject to income tax by the taxpayer.