In a Trial Balance, What Indicates That an Amount Is

question 31

Multiple Choice

In a trial balance, what indicates that an amount is a final sum?

• A) dollar sign.
• B) single underline.
• C) double underline.
• D) bold font.

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Definitions:

Adjusting Entry

Journal entries made at the end of an accounting period to update the accounts for accruals or deferrals that were not previously recorded.

Gross Profit

The financial measure calculated by subtracting the cost of goods sold from revenue, representing the profit a company makes after deducting the costs associated with making and selling its products.

Net Sales

The amount of sales revenue left after deducting sales returns, allowances, and discounts from gross sales.

Gross Profit

The profit from sales revenue remaining after the cost of goods sold is subtracted, but before accounting for overheads, payroll, taxes, and interest expenses.