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:

Inertia

A tendency for people to stick with an existing or previous decision, avoiding change or action.

Message-Response Involvement

The degree of cognitive and emotional engagement an individual experiences in response to a communication message.

Securities Rules

Regulatory guidelines established to govern the trading, offering, and selling of securities to protect investors and ensure market integrity.

Electronic Messages

Communications transmitted through electronic means, such as email, instant messaging, and text messaging.