True; Adjusted trial balance is used to verify that total debits equal total credits after account balances have been updated to reflect adjusting entries.
Before preparing an Adjusted trial balance the following step must be put in place:
•Detection of any errors
•Correction of errors detected
Now after errors has been corrected or after all the necessary adjusting entries have been made the adjusted trial balance will now be prepared in order to show both the total debit balances and the total credit balance.
It is important that the total debit balance correspond with the Total credit balance based on the double entry principles.
Inconclusion True; Adjusted trial balance is used to verify that total debits equal total credits after account balances have been updated to reflect adjusting entries.
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