The Trial Balance

question 81

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:

Passion

Intense, driving, or overmastering feeling of enthusiasm or desire for something.

Obsession

Obsession is an intense or excessive preoccupation with a particular idea, object, or activity.

Effective Discipline

An approach to managing behavior that is focused on teaching and guiding rather than punishment, aiming to promote self-control and appropriate conduct.

Clear Guidelines

Explicitly stated and easily understandable rules or instructions designed to direct behavior or processes.