• 1 Marks

FA – Nov 2015 – L1 – SA – Q5 – Financial Statements Preparation

The question identifies the term for an extended trial balance that incorporates adjustments.

The extension of a trial balance to incorporate details of accounting adjustments, in order to arrive at the final trial balance for the preparation of statement of profit or loss and statement of financial position is referred to as:
A. Extension summary sheet
B. Spread sheet analysis
C. Extended Accounts balances lists
D. Extended trial balance
E. Extended balance sheet

D. Extended trial balance

Explanation:
The term “Extended Trial Balance” accurately describes the process of including adjustments necessary for preparing the final financial statements. This extension allows for the compilation of the final figures that will be reported in the financial statements.

Back to all questions

Pick a Form

Professional Tutor Application Form
Academic Tutor Application Form
Student Tutor Application Form