Which statements about the unadjusted trial balance is not correct?
A)An unadjusted trial balance is the same as a balance sheet.
B)An unadjusted trial balance lists all the accounts with their current balances.
C)An unadjusted trial balance can verify the equality of debits and credits.
D)An unadjusted trial balance can be prepared at any point in time.

Question

Quizplus · Accepted Answer

After all journal entries are summarized in the various accounts and ending balances are calculated for each account,all of the account balances are listed on the unadjusted trial balance.It can be prepared at any time (but is typically prepared at the end of the accounting period).After the columns are totaled,total debits should equal total credits.The unadjusted trial balance lists all of the account balances while the balance sheet would list only the ending balances of the asset,liability,and stockholders' equity accounts.

Which Statements About the Unadjusted Trial Balance Is Not Correct