Multiple Choice Questions on The trial balance which is prepared after the adjustment of outstanding expenses prepaid expenses am........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

The trial balance which is prepared after the adjustment of outstanding expenses prepaid expenses am...........

General Accounting Principles Accounting cycles
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    The trial balance which is prepared after the adjustment of outstanding expenses, prepaid expenses & depreciation is termed as

    Unadjusted trial balance

    Incorrect Answer

    Adjusted trial balance

    Correct Answer

    Financial trial balance

    Incorrect Answer

    None of the above 

    Incorrect Answer
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    Explanation:

    Any errors identified are corrected, and other adjustments are made to ensure the record-keeping is in line with accounting standards.
    At this point the trial balance is known as the adjusted trial balance and the financial statements are prepared. 

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