Net income or net loss can be determined by the adjusted trial balance figures.

Name: Net income or net loss can be determined by the adjusted trial balance figures.
Brand: Quizplus
Rating: 4.9 (45 reviews)

Question

Quizplus · Accepted Answer

The adjusted trial balance includes all the adjustments made to the accounts at the end of the accounting period, and once these adjustments are made, the net income or net loss can be derived by comparing the debit and credit balances in the accounts. Therefore, the statement is true.

Net Income or Net Loss Can Be Determined by the Adjusted