What Is True About the Trial Balance

question 58

Multiple Choice

What is true about the trial balance?

• A) The total of the debits must equal the total of the credits.
• B) It contains a detailed listing of every transaction during a period.
• C) Payroll accounts do not appear on the trial balance because of their changeable nature.
• D) It may contain whatever accounts the accountant wishes to include.

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Definitions:

Geographical Area

A specific physical region or territory within which activities associated with sales or marketing are conducted.

80/20 Principle

A rule of thumb that states that 80% of outcomes result from 20% of all causes for any given event.

Time Management

The process of organizing and planning how to divide one's time between specific activities efficiently.

Territorial Evaluation

The assessment of the sales potential or performance of a specific geographic area or market segment.