A Trial Balance Is a Useful Device Because It Provides

question 146

Multiple Choice

A trial balance is a useful device because it provides a check on accuracy by showing 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 of all the income statement accounts equals the total of all the balance sheet accounts

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Definitions:

Dependency Theory

The global theory maintaining that industrialized nations hold less-industrialized nations in a dependent relationship that benefits the industrialized nations at the expense of the less-industrialized ones.

Modernization Theory

A theory that suggests societies progress through a series of stages toward stability, democracy, and prosperity, often through technology and industrialization.

Functionalist Theory

A sociological perspective that interprets each part of society in terms of how it contributes to the stability and functionality of the whole society.

Multinational Corporations

Large companies that operate and provide goods or services in multiple countries outside of their home country.