Financial statements are prepared from the
A)trial balance
B)adjusted trial balance
C)general ledger
D)general journal

Question

Quizplus · Accepted Answer

Financial statements are prepared from the adjusted trial balance, which includes all the necessary adjustments made to the accounts after the trial balance is prepared. The trial balance and general ledger provide the necessary accounts and balances for the adjusted trial balance, but they do not include the necessary adjustments. The general journal is used to record the initial transactions, but it does not provide a summary of account balances.

Financial Statements Are Prepared from the