true
The adjusted trial balance is prepared after adjusting journal entries have been made to the unadjusted trial balance, and it includes both income statement and balance sheet accounts. The purpose of the adjusted trial balance is to ensure that the total debit balance of all accounts equals the total credit balance of all accounts, and that all adjusting entries have been properly recorded.
The after-closing trial balance, on the other hand, is prepared after closing entries have been made to the adjusted trial balance, and it includes only balance sheet accounts. The purpose of the after-closing trial balance is to verify that the total debit balance of all accounts equals the total credit balance of all accounts after the closing entries have been made, and that all temporary income statement accounts have been closed out to the retained earnings account.