The Trial Balance

question 52

Multiple Choice

The trial balance

• A) includes all accounts with a balance in the ledger.
• B) includes assets, liabilities, capital, withdrawals, revenues and expenses.
• C) ensures that debits equal credits.
• D) All of the above are correct.

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Definitions:

Writ of Attachment

A court order that allows for the seizure of a debtor's property in order to secure the satisfaction of a judgment.

Writ of Execution

A court order granting permission to enforce a judgment, typically by allowing for the seizure or sale of the debtor's property.

Record Mortgage

A legal document indicating a mortgage loan has been registered with the local government land office, making it part of the public record.

Mortgage Loan

A loan secured by real property through the use of a mortgage note, used by purchasers of real property to raise funds to buy real estate.