Which of the Following Statements Are True

question 228

Multiple Choice

Which of the following statements are true?

• A)If the trial balance is in balance,it proves that no errors have been made in recording and posting transactions.
• B)The trial balance is a book of original entry.
• C)Another name for trial balance is chart of accounts.
• D)The trial balance is a list of all accounts from the ledger with their balances at a point in time.
• E)The trial balance is another name for the balance sheet as long as debits balance with credits.

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Definitions:

Coefficient

An algebraic expression is multiplied and preceded by a constant or numerical quantity known as the coefficient.

Constant

A fixed value that does not change in mathematical equations or experiments.

Predict

To declare or indicate a probable event or outcome in the future, often based on data analysis or patterns.

Influential Points

Data points in a statistical analysis that have a significant impact on the result of a regression or other statistical model.