Assume a Company Only Entered into Financing and Investing Activities

question 82

Multiple Choice

Assume a company only entered into financing and investing activities and has prepared its journal entries and posted them to T-accounts.How would the related account balances be listed on its trial balance?

• A)Credits first,followed by debits
• B)Debits first,followed by credits
• C)Alphabetically
• D)In descending order by dollar amount

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Definitions:

Flexible Budget

A budget that adjusts based on changes in the volume of activity, allowing for more accurate comparisons to actual results.

Expected Level of Activity

An estimate of the amount or volume of work, production, or operations anticipated within a specific period.

Control System

A framework or set of mechanisms used by organizations to guide, manage, and regulate behavior and performance towards desired outcomes.

Actual Performance

The real, observed output, results, or accomplishments of a process, individual, or organization, often compared against planned or expected performance.