The Trial Balance Is Used to Determine Whether

question 67

Multiple Choice

The trial balance is used to determine whether:

• A)total assets equal total liabilities.
• B)total debits equal total credits.
• C)total revenues plus gains equal total expenses plus losses.
• D)total increases in accounts equal total decreases in accounts

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Definitions:

Indirect Method

A communication technique where the main point or bad news is presented later in the message, often after explanations or justifications.

Bad News About Transactions

Negative information or updates related to business dealings, financial transactions, or agreements that may affect stakeholders' perceptions or decisions.

Direct Approach

A communication method that involves stating the main point or objective at the very beginning.

Succinct Statement

A concise and clearly expressed declaration or explanation, often capturing the essence of an idea or stance with brevity.