uop acc 290 new,uop acc 290 new,uop acc 290 new complete course,uop a ACC 290 Final Exam NEW | Page 13

Question 20
Can financial statements be prepared directly from the
adjusted trial balance?
Yes, adjusting entries have been recorded in the general
journal and posted to the ledger accounts.
No, the adjusted trial balance merely proves the equality of the
total debit and total credit balances in the ledger after
adjustments are posted. It has no other purpose.
They can because that is the only reason that an adjusted trial
balance is prepared.
They cannot. The general ledger must be used.
Question 21
Which trial balance will consist of the greatest number of
accounts?
All of these answer choices will contain the same number of
accounts.
Post-closing trial balance
Trial balance
Adjusted trial balance
Question 22
All of the following are required steps in the accounting cycle
except: