Which One of the Following Statements Regarding the Trial Balance

question 86

Multiple Choice

Which one of the following statements regarding the trial balance is true?

• A)A trial balance is included in the full set of external financial statements,just like an income statement.
• B)If debits equal credits in the unadjusted trial balance,you have made no errors in preparing and posting journal entries.
• C)The balances for each account reported on an unadjusted trial balance are determined by adding the amounts on the "+" side and subtracting the amounts on the "-" side of each ledger or T-account.
• D)GAAP allows companies to choose between the cash basis or the accrual basis of accounting.

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Definitions:

Battered

Subjected to repeated physical violence, often used to describe victims of domestic abuse.

Husbands

Married men, often considered in the context of their roles and responsibilities within a marriage.

Remorse

A deep regret or guilt for a wrong committed.

Potential Neglect

A situation where there is a risk or likelihood of neglect, characterized by failing to provide adequate care, support, or attention to someone's needs.