Which of the following statements is incorrect?
A. An unadjusted trial balance is a list of accounts and balances prepared before adjustments are recorded.
B. Financial statements can be prepared directly from information in the adjusted trial balance.
C. Financial statements should be prepared directly from information in the unadjusted trial balance.
D. An adjusted trial balance is a list of accounts and balances prepared after adjusting entries have been recorded and posted to the ledger.
E. Each trial balance amount is used in preparing the financial statements.
Answer: C
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Answer the following statement true (T) or false (F)
The landlord's favorite place to buy shrimp in New Orleans was the Cajun Seafood market on Claiborne and he did not hesitate to stock up on shrimp when he dropped by the shotgun double house he bought as an investment a few years ago
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A) shortages of skilled consultants B) cultural expectations C) different telecommunication standards D) different data transfer speeds E) unreliable phone networks
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