Which of the Following Statements Is TRUE

question 90

Multiple Choice

Which of the following statements is TRUE?

• A)A trial balance presents data in debit and credit format,but a balance sheet does not.
• B)A trial balance is in the same format as a balance sheet.
• C)A trial balance is created after the balance sheet is prepared.
• D)A trial balance shows total amounts for assets,liabilities and equity.

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Definitions:

Classical View

In philosophy, the perspective that holds certain concepts or categories as absolute and universally applicable, often in contrast to more relativistic or subjective views.

Prototype Theory

A model of categorization in cognitive science where some concepts or category members are viewed as more representative of that category than others, based on an average of characteristics within that category.

Exemplar Theory

A theory in cognitive science that suggests individuals categorize objects and ideas by comparing new experiences to existing examples (or exemplars) in memory.

Knowledge-based View

is a perspective in strategic management that considers knowledge as the most strategically significant resource of a firm, focusing on the creation, integration, and management of intellectual capital.