A trial balance prepared after adjustments have been recorded is called a(n)
A) Balance sheet.
B) Adjusted trial balance.
C) Unadjusted trial balance.
D) Classified balance sheet.
E) Unclassified balance sheet.

Question

Quizplus · Accepted Answer

A trial balance prepared after adjustments have been recorded is called an adjusted trial balance. This is because the adjustments made to the accounts have been reflected in the balances on the trial balance, making it more accurate than an unadjusted trial balance which only includes the original balances of the accounts. A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time, and can be prepared using information from the adjusted trial balance. Classified and unclassified balance sheets are types of balance sheets, but are not related to trial balances.

A Trial Balance Prepared After Adjustments Have Been Recorded Is