A Trial Balance Prepared After the Closing Entries Have Been

question 154

Multiple Choice

A trial balance prepared after the closing entries have been journalized and posted is the:

• A) Unadjusted trial balance.
• B) Post-closing trial balance.
• C) General ledger.
• D) Adjusted trial balance.
• E) Work sheet.

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Definitions:

Current Liability

A company's debts or obligations that are due to be paid to creditors within one year.

Loan Requests

are formal applications made by individuals or companies to borrow money from financial institutions.

Financial Statements

Financial Statements are written records that convey the business activities and the financial performance of a company, including the balance sheet, income statement, and cash flow statement.

Trial Balance

A financial worksheet that consolidates all ledger balances into equal debit and credit columns for each account.