The adjusted trial balance shows ________.

answer choices

account balances after adjustments

revenue and expense accounts only

account balances before adjustments

balance sheet accounts only

Which of the following statements best defines financial statements?

answer choices

Financial statements are the information systems that record monetary and nonmonetary business transactions.

Financial statements are the verbal statements made to business news organizations by chief financial officers.

Financial statements are documents that report on a business in monetary terms, providing information to help people make informed business decisions.

Financial statements are plans and forecasts for future time periods based on information from past financial periods.