A trial balance
A. is a list of all the accounts in the ledger.
B. is a list of all the accounts and their balances at a specific date.
C. cannot be used in the preparation of financial statements.
D. cannot be used as a basis for preparation of adjusting entries.
Answer:B
A trial balance
A. is a list of all the accounts in the ledger. B. is a list of all the accounts and their balances at a specific date. C. cannot be used in the preparation of financial statements. D. cannot be used as a basis for preparation of adjusting entries.