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

---

Definitions:

Necessary Supplies

Items or materials required for a particular purpose, essential for operations or survival.

Financing the War

The methods and strategies used by countries to fund military operations and war efforts, including taxation, borrowing, printing money, and selling war bonds.

European Financing

Financial support or funding that originates from European countries, often associated with investments, loans, or grants.

Gifts of Money

Monetary gifts given without the expectation of return, often as part of a celebration, charity, or to help someone in need.