If the Debit and Credit Column Totals of a Trial

question 191

Multiple Choice

If the Debit and Credit column totals of a trial balance are equal, then:

• A) All transactions have been recorded correctly.
• B) All entries from the journal have been posted to the ledger correctly.
• C) All ledger account balances are correct.
• D) The total debit entries and total credit entries are equal.
• E) The balance sheet would be correct.

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Definitions:

Hard Candies

Sweet confections that are solid and brittle, made primarily from sugar with various flavorings and colorings.

Pocket Money

An amount of money given at regular intervals by parents to their children, often to teach them about managing money.

Marginal Utilities

The incremental satisfaction or utility obtained through the consumption of an extra unit of a product or service.

Hard Candies

A type of confectionery that is based on sugar and other sweeteners, hardened into a solid mass.