The Ordering of Accounts in a Trial Balance Typically Follows

question 19

True/False

The ordering of accounts in a trial balance typically follows their identification number from the chart of accounts, that is, assets first, then liabilities, then owner's capital and withdrawals, followed by revenues and expenses.

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Definitions:

Hypothesizing

The process of forming a hypothesis, which is a proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Validating

The process of verifying or proving the accuracy, truth, or effectiveness of something.

Business Model

The conceptual structure supporting the viability of a business, including its purpose, target market, and the process of how it operates to generate revenue.

Business Model

A company's plan for making a profit; it identifies the products or services the business plans to sell, its targeted market, and any expected expenses.