The Main Purpose of the Trial Balance Is to Check

question 140

True/False

The main purpose of the trial balance is to check that debits equal credits.

Recognize the characteristics and applications of major needs theories.

Analyze scenarios to identify missing elements in achieving personal goals related to motivation.

Understand the significance of maintaining effort and direction in motivation.

Acknowledge the role of motivation in personal and organizational accomplishments.

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Definitions:

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Stock Dividend

A payment made to shareholders in the form of additional shares in the company, rather than cash.

Cash Dividend

A direct payment of profits made by a company to its shareholders, usually in cash.

Retained Earnings

The portion of a company's profit that is held or retained and saved for future use, investment, or to pay debt, rather than being distributed to shareholders as dividends.