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Royce is telling a story about a character on a TAT card. In his story, Royce focuses on the character's need to win a contest as she prepares a speech that will be presented. He indicates that the character has spent a great deal of time worrying whether the speech may not be good enough to impress the judges and win the contest. Royce's response to this TAT card suggests that he MOST likely has
Trial Balance
A bookkeeping report that lists the balances in each of an organization's general ledger accounts at a specific time.
General Ledger
The primary accounting record of a company that contains all the financial accounts and transactions of a business.
Total Credits
The total value of all credit entries recorded in an accounting period, representing income or liabilities.
Post-Closing Trial
A trial balance prepared after all closing entries are made, serving to test the equality of debits and credits as a final check at the end of an accounting period.
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