If the Debit and Credit Column Totals of a Trial

question 27

Multiple Choice

If the Debit and Credit column totals of a trial balance are equal, then

• A)All ledger account balances are correct.
• B)All entries from the journal have been posted to the ledger correctly.
• C)The total debit entries and total credit entries in the ledger are equal.
• D)No sliding or transposition errors have been made.
• E)All transactions have been recorded correctly.

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Definitions:

Prenuptial Agreements

Legal contracts entered into before marriage, outlining the division of assets should the marriage end in divorce.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.

Partial Performance

The act of completing a portion of the obligations outlined in a contract, often considered in legal disputes about contract enforcement.

Respondeat Superior

A rule of law which makes an employer or principal accountable for an employee's or agent's wrongful actions, provided those actions were performed during the course of their employment or agency.