Financial statements are prepared from the balances in a(n)________.
A) general journal
B) chart of accounts
C) unadjusted trial balance
D) adjusted trial balance

Question

Quizplus · Accepted Answer

Financial statements are prepared from the adjusted trial balance, which is a list of all accounts and their balances after adjusting entries have been made. The general journal and chart of accounts are used for recording transactions and organizing accounts, and the unadjusted trial balance is a list of accounts and balances before any adjustments have been made.

Financial Statements Are Prepared from the Balances in A(n)________