Final answer:
True, preparing an Adjusted Trial Balance for a merchandiser involves new accounts specific to merchandising activities such as Inventory and Cost of Goods Sold, in addition to common accounts used by service businesses.
Step-by-step explanation:
The statement is true. The process of preparing an Adjusted Trial Balance for a merchandising business is very similar to that of a service business. However, there are additional accounts specific to merchandisers that must be included. These new accounts relate to the buying and selling of inventory, which is a key aspect of a merchandiser's operations. The primary differences include accounts like Inventory, Cost of Goods Sold (COGS), and sales-related accounts such as Sales Revenue and Sales Returns and Allowances. It is essential for these accounts to be accurately recorded and adjusted before an Adjusted Trial Balance can be finalized, as they reflect the core business activities of a merchandising company related to their merchandise trade balance.