Which of the Following Statements Is True

question 143

Multiple Choice

Which of the following statements is true?

• A)A trial balance is in the same format as balance sheet.
• B)A trial balance presents data in debit and credit format, but a balance sheet does not.
• C)A trial balance shows total amounts for assets, liabilities, and equity.
• D)A trial balance is created after the balance sheet is prepared.

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Definitions:

TQM

Total Quality Management, a continuous effort by management to improve the quality of products and services through feedback and refinements.

Frederick Taylor

A U.S. mechanical engineer renowned for his efforts to enhance industrial productivity, famously recognized as the progenitor of scientific management.

Productivity

measures how efficiently goods and services are produced by comparing the amount of outputs generated to the inputs used.

Steel Mill

An industrial plant for the manufacture of steel, involving processes like smelting and refining of iron and steel.