A Trial Balance Will Determine If

question 97

Multiple Choice

A trial balance will determine if:

• A) an entry was recorded twice.
• B) an entry was posted twice.
• C) debits equal credits.
• D) the right accounts were debited or credited.
• E) all entries are correct.

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Definitions:

Output

The total amount of goods or services produced by a company, industry, or economic system.

Price

The amount of money required to purchase a good or service, set by the interplay of supply and demand forces in the market.

Total Cost

The full expense incurred in the production or acquisition of goods or services, including both fixed and variable costs.

Marginal Cost

The supplementary charge triggered by the manufacture of one extra unit of a product or service.