Final answer:
The Statement of Adjustments in a real estate transaction provides a detailed financial breakdown for the seller and buyer, including adjustments for property taxes, utility bills, and other costs associated with the property as of the closing date.
Step-by-step explanation:
The Statement of Adjustments in a real estate transaction typically provides C) A detailed financial breakdown for both the seller and the buyer. This document outlines the financial transactions necessary to complete the real estate sale, including the allocation of costs such as property taxes, utility bills, and other associated charges. It ensures that the seller and buyer are properly credited or debited for these expenses as of the closing date. For example, if the seller has prepaid property taxes for the year, the statement will show a credit to the seller and a debit to the buyer for their portion of the year.