Which of the following steps must be completed before preparing the adjusted trial balance?
A)preparing the post-closing trial balance
B)posting of journal entries to the accounts
C)preparation of the closing entries
D)preparation of the financial statements

Question

Quizplus · Accepted Answer

Before preparing the adjusted trial balance, the journal entries must be posted to the accounts in order to have accurate account balances. The post-closing trial balance and preparation of the financial statements are subsequent steps after the adjusted trial balance is prepared. The preparation of closing entries is not necessarily a required step before the adjusted trial balance, as it only affects temporary accounts that will not be included in the adjusted trial balance.

Which of the Following Steps Must Be Completed Before Preparing