If a Trial Balance Is Not Equal, You Should First

question 63

Multiple Choice

If a trial balance is not equal, you should first:

• A) re-compute the ledger balances.
• B) trace all postings.
• C) re-add the trial balance and calculate the difference.
• D) match debits and credits in the journal.

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Definitions:

Cakes

Baked desserts that are typically sweet and made from ingredients such as flour, sugar, and eggs.

Absolute Advantage

A scenario in which a country can produce a particular good or service more effectively than another country with the same amount of resources.

Comparative Advantage

an economic principle that posits a country or entity can produce a particular good or service at a lower opportunity cost than its trading partners, leading to beneficial trade.

Medium Of Exchange

Anything that facilitates trade by being generally accepted by all parties in payment for goods or services.