A Trial Balance Is a Useful Device Because It Provides

question 107

Multiple Choice

A trial balance is a useful device because it provides a check on accuracy by showing whether:

• A) total revenues equal total expenses
• B) total of all the income statement accounts equals the total of all the balance sheet accounts
• C) total debits equal total credits
• D) total assets equal total liabilities

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Definitions:

Simple Interest

Interest computed on the original sum of a loan or deposit, not including the effects of compounding throughout the duration.

Simplification

The process of reducing a mathematical expression or equation to its simplest form.

Like Terms

Terms in an algebraic expression that have the same variable factors and thus can be combined or simplified.

Mathematical Expression

A combination of numbers, variables, and operators (such as +, -, *, /) that represent a value or quantity.