Trial Balance

The unadjusted trial balance follows what step in the accounting cycle?

• Analyzing entries

• Posting in the General Ledger

• A profit and loss statement

• A sales reconciliation

An adjusted trial balance lists:

• All accounts

• All accounts that have a balance greater than zero

• Accounts with a hormal debit balance

• Accounts with a normal credit balance

If the debits and credits balance, we know the Trial Balance is Error Free

• True

• False

The Unadjusted Trial Balance is

• Used for tax submissions

• For publication to clients and the media

• For internal use only

• None of these

Since the report is known as an "Unadjusted Trial Balance" we can expect that...

• This is a finished report

• It is error-free

• All accounts are in balance

• Adjustments will need to be made later