Which of the Following Statements About the Trail Balance Is

question 16

Multiple Choice

Which of the following statements about the trail balance is NOT true?

• A)Debit balances must equal credit balances.
• B)It includes only assets, liability and equity accounts.
• C)It is useful for detecting errors.
• D)It is an important step in the accounting cycle.

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Definitions:

Unethical

Actions or behaviors that do not meet the accepted standards of moral conduct.

Business Practice

Standard methods or processes used in the running of a company or in conducting commercial activities.

Ethical Conceptions

Theories or ideas pertaining to ethics, dealing with questions of morality and the principles of right and wrong.

Business Law

The enforceable rules of conduct that govern the actions of buyers and sellers in market exchanges.