Which of the Following Is True Regarding the Accounting Process

question 67

Multiple Choice

Which of the following is true regarding the accounting process?

• A) Preparation of the trial balance ensures that all amounts have been posted to the correct accounts.
• B) Preparation of the trial balance is a step in the recording process.
• C) Preparation of the trial balance determines that total debits equal total credits.
• D) Preparation of the trial balance determines both that total debits equal total credits and that all amounts have been posted to the correct accounts.

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Definitions:

Original Owners

The first owners or proprietors of an asset or property.

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The additional output obtained by employing one more unit of a certain input while keeping other inputs constant.