If the Sum of the Debit Column Equals the Sum

question 29

Multiple Choice

If the sum of the debit column equals the sum of the credit column in a trial balance it indicates

• A) no errors have been made.
• B) no errors can be discovered.
• C) that all accounts reflect correct balances.
• D) the mathematical equality of the accounting equation.

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Definitions:

Production Technology

The methods, processes, and equipment used in the production of goods and services.

Market Quantity Supplied

The total amount of a specific good or service that is available for purchase in a market at a given price.

Market Supply Curve

A graphical representation showing the relationship between the price of a good and the total quantity of the good supplied by all suppliers at each price level.

Market Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to purchase at various prices.