Knowledge Check 01\ \ What is the purpose of an adjusted trial balance?\ \ \ \ multiple choice\ An adjusted trial balance is prepared to check that the accounting records are still in balance, after having posted all recurring daily transactions to the T-accounts.\ An adjusted trial balance is prepared to check that the accounting records are still in balance, after having posted all adjusting entries to the T-accounts.\ If an adjusted trial balance is prepared, there is no need to post the adjusting entries to the T-accounts.\ An adjusted trial balance takes the place of financial statements.