A Trial Balance

question 13

Multiple Choice

A trial balance

• A)is a list of accounts with their balances at a given point in time.
• B)will not balance if a correct journal entry is posted twice.
• C)will tell you if a transaction is not posted at all.
• D)proves the factual accuracy of journalized transactions.

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Definitions:

Trade Creditors

Suppliers or vendors that allow businesses to buy goods or services on account, paying them at a later date.

Flexible Lending Arrangements

Financial agreements that offer adaptable repayment terms to accommodate the borrower's financial situation.

Asset-Based Lending

A type of financing where loans are given based on the value of an individual's or company's assets.

Loan Collateral

Assets or property pledged by a borrower to secure a loan, serving as a guarantee for the lender that the loan will be repaid.