The Purpose of a Trial Balance Is to

question 206

Multiple Choice

The purpose of a trial balance is to

• A) affirm whether the figures in the account ledgers are correct and balanced.
• B) prepare a mockup of a real balance sheet.
• C) review the income statement accounts.
• D) meet a reporting requirement of the Securities and Exchange Commission (SEC).

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Definitions:

Ethical Dilemma

A situation in which a difficult choice has to be made between two or more options, none of which resolves the situation in an ethically satisfactory way.

Organizational Resources

Assets, capabilities, processes, information, and knowledge that an organization controls and utilizes to achieve its objectives and goals.

Company Email Accounts

These are email addresses provided by a company to its employees for business correspondence, typically following the format of [employee name]@[company name].com.

Ethical Dilemma

A situation where one is forced to choose between two morally correct but contradictory actions or decisions.