Which of the following statements about the unadjusted trial balance is not correct?
A) It might only include a preliminary amount for income tax expense.
B) It might balance even if there is a mistake.
C) It does not yet include end-of-the-accounting period adjustments.
D) It is part of the financial statements issued to external decision makers.

Question

Quizplus · Accepted Answer

The unadjusted trial balance is not part of the financial statements issued to external decision makers. It is an internal document used by accountants to ensure that debits and credits are equal before adjusting entries are made.

Which of the Following Statements About the Unadjusted Trial Balance