What Is True About the Trial Balance

question 49

Multiple Choice

What is true about the trial balance?

• A)It contains a detailed listing of every transaction during a period.
• B)It may contain whatever accounts the accountant wishes to include.
• C)Payroll accounts do not appear on it because of their changeable nature.
• D)The total of the debits must equal the total of the credits.

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Definitions:

Social Honor

The social recognition, respect, and admiration one receives from others in society based on achievements, character, or status.

Classes

Social groupings based on similar economic positions and levels of material possessions, often associated with power and privilege differences.

Traditional Authority

A form of governance where power is legitimized by traditional customs, beliefs, and practices handed down from the past.

Gerontocracy

A form of government or organizational structure where power is concentrated in the hands of older members of society or an institution.