The Trial Balance

question 3

Multiple Choice

The trial balance

• A) Is a listing of all the accounts and their balances in the order the accounts appear on the statement of financial position.
• B) Has as its primary purpose to prove (check) that all journal entries were made for the period.
• C) Can be used to uncover errors in journalizing and posting.
• D) Is used to prepare the statement of financial position while the general ledger is used to prepare the income statement.

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Definitions:

Renewable Resource

A natural resource that can replenish itself over time through natural processes, such as solar energy, wind, and water cycles.

Cooperation

The process of working together towards a common goal or benefit.

Group Prototypes

Conceptual or representative examples of the typical qualities or behaviors of a particular social group.

Cognitive Representations

Mental models or symbols that individuals use to understand and interact with the world around them.