If a Trial Balance Is Not Equal,you Should First

question 48

Multiple Choice

If a trial balance is not equal,you should first:

• A)re-compute the ledger balances.
• B)trace all postings.
• C)re-add the trial balance and calculate the difference.
• D)match debits and credits.

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Definitions:

Book Value

The total worth of a company's assets after subtracting its liabilities, frequently employed to evaluate the financial condition of a company.

Equipment Cost

Equipment cost refers to the total expense incurred from purchasing equipment, including acquisition cost, delivery charges, setup fees, and any other expenses associated with making the equipment ready for use.

Straight-Line Depreciation

Straight-Line Depreciation is a method of uniformly distributing the cost of a tangible asset over its useful life.

Net Working Capital

A measure of a company's liquidity, efficiency, and overall financial health, calculated by subtracting current liabilities from current assets.