15. The adjusted trial balance is prepared

a.only if errors are suspected when problems arise while preparing the financial statements.

b.prior to completing the adjusting entries.

c.after financial statements are prepared.

d.after adjusting entries are posted but before financial statements are prepared.

16.Once the adjusted trial balance is balanced, it can be used to prepare

a.the classified balance sheet only.

b.the income statement, the statement of owner's equity, and the classified balance sheet.

c.the classified balance sheet and the income statement only.

d.None of these financial statements are prepared with the adjusted trial balance.

17.Which of the following errors would cause the adjusted trial balance to be unequal?

a.The adjustment for depreciation of $3,545 was journalized as debit to Depreciation Expense for $3,454 and a credit to Accumulated Depreciation of $3,545.

b.The adjustment for prepaid insurance was omitted.

c.The adjustment for accrued fees of $16,340 was journalized as a debit to Accounts Payable for $16,340 and a credit to Fees Earned of $16,340.

d.The adjustment for unearned revenue was omitted.