Which of the Following Describes a Trial Balance

question 27

Multiple Choice

Which of the following describes a trial balance?

• A) an optional financial statement used only by creditors
• B) a tool used to prove the equality of debits and credits in the general ledger
• C) a list of accounts and their balances taken from the chart of accounts
• D) a financial statement that can be used in place of a balance sheet

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Definitions:

Judgments

The mental operation of assessing, forming opinions, or making decisions based on information, reasoning, and/or emotional responses.

Sincerity

The quality of being free from pretense, deceit, or hypocrisy in one's actions or words.

Eye Color

The color of the iris, which can range widely among individuals, including blue, brown, green, and varying shades thereof.

Short-Term Memory

The capacity for holding a small amount of information in an active, readily available state for a short period of time.