What Is an Adjusted Trial Balance? Why Is It Prepared

question 173

Essay

What is an adjusted trial balance? Why is it prepared?

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Definitions:

President's Budget

An annual proposal by the U.S. President outlining the government's planned financial activities and spending for the upcoming fiscal year.

Office of Management and Budget

A federal office within the Executive Branch of the United States government that assists the President in preparing the budget and monitoring federal agencies.

Indirect Tax

A tax levied on goods and services rather than on income or profits.

Corporate Income Tax

A tax imposed on the net income of corporations, calculated after allowable deductions and credits.