Which of the Following Statements About a Trial Balance Is

question 21

Multiple Choice

Which of the following statements about a trial balance is true?

• A) A trial balance is one of the financial statements provided to shareholders at the close of the financial period.
• B) A trial balance will detect if a transaction was not recorded.
• C) The sum of the debits is not necessarily the same as the total of the assets side of the balance sheet.
• D) None of the statements are true.

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Definitions:

Incapacitation

The state of being disabled or deprived of legal power or physical capabilities.

Retribution

A principle of justice that advocates for punishment to be proportional to the crime, serving as a form of moral vengeance.

Theory of Punishment

A set of principles discussing the rationale and justification for punishing individuals who break the law.

Fear of Punishment

The anticipation of experiencing negative consequences or sanctions as a result of engaging in wrongful or illegal acts, often used as a deterrent.