Which of the Following Statements CORRECTLY Describes a Trial Balance

question 38

Multiple Choice

Which of the following statements CORRECTLY describes a trial balance?

• A)A trial balance is the first step in the accounting cycle.
• B)A trial balance is a list of all accounts with their balances.
• C)A trial balance is also known as a balance sheet.
• D)A trial balance is also known as the chart of accounts.

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Definitions:

Group Development

Describes the stages (forming, storming, norming, performing, and adjourning) through which groups pass as they evolve and mature.

Stage

A specific phase or period in a process of development or progression.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Group Support

The assistance, encouragement, and backing provided by group members to each other.