Once the Adjusting Entries Are Posted, the Adjusted Trial Balance

question 98

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 owner's 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.

---

Definitions:

Asthenosphere

A highly viscous, mechanically weak region of the upper mantle beneath the Earth's lithosphere.

Erupting Volcano

A geological event where molten rock, ash, and gases escape from a crack in the Earth's surface.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in the air and is absorbed by plants in photosynthesis.

Crystalline Structure

A unique arrangement of atoms in a crystal, characterized by its highly regular order and symmetry.