Which of the following statements about the unadjusted trial balance is correct?
A)It generally includes final amounts for all expenses,but preliminary amounts for all revenues.
B)It will not balance if there is a mistake.
C)It includes end-of-the-accounting period adjustments.
D)It is an internal report and not part of the financial statements issued to external decision makers.

Question

Quizplus · Accepted Answer

The unadjusted trial balance is an internal report;it is not issued to external decision makers.It is prepared before end-of-period adjustments and lists the unadjusted balances of each account to check the equality of total debits and credits.If a mistake has been made,the unadjusted trial balance may still balance.

Which of the Following Statements About the Unadjusted Trial Balance