The Purpose of a Trial Balance Is To

question 97

Multiple Choice

The purpose of a trial balance is to:

• A)prepare a mock up of a real balance sheet.
• B)review the income statement accounts.
• C)meet a reporting requirement of the Securities Exchange Commission (SEC).
• D)show whether the figures in the account ledgers are correct and balanced.

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Definitions:

Metabolic Wastes

Substances left over from metabolic processes, such as carbon dioxide, water, and nitrogenous compounds, that need to be excreted from the body.

Trigone

The triangle formed by the openings of the two ureters and the urethra in the internal floor of the bladder.

Tubular Reabsorption

The process by which the nephrons in the kidneys return substances from the filtrate to the blood, effectively conserving water, salts, and nutrients.