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Adjusted Trial Balance: Definition, Preparation & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

A report that lists all the accounts a company has and their balances after adjustments have been made is called the _____.

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1. Before you can complete the adjusted trial balance, you first have to create the _____.

2. Some company accounts need to be _____ in order to meet the requirements of the accrual basis accounting method.

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About This Quiz & Worksheet

Though adjusted trial balances may seem like a confusing part of accounting in isolation, they are just one part of a larger process. This interactive quiz and worksheet will help you understand the process and lesson.

Quiz & Worksheet Goals

In these assessments, you'll be tested on:

  • Defining adjusted trial balance
  • Understanding the process of creating an adjusted trial balance
  • Defining the terms 'adjusted' and 'accrual' in relation to accounting
  • The columns in a worksheet for preparing adjusted trial balance

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related adjusted trial balances lesson
  • Defining key concepts - ensure that you can accurately define main phrases, such as trial balance and accrual basis
  • Knowledge application - use your knowledge to answer questions about accounting

Additional Learning

To learn more about adjusted trial balances, review the accompanying lesson on Creating an Adjusted Trial Balance. This lesson covers the following objectives:

  • Following the process to create an adjusted trial balance
  • Defining terms associated with adjusted trial balances
  • Creating the worksheet necessary to complete an adjusted trial balance
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