Match the Terms with the Definitions $T$ Account
J) Trial Balance

question 84

Multiple Choice

Match the terms with the definitions.

-The normal balance of liability,owner's equity,and revenue accounts.

• A) balance
• B) credit
• C) credit balance
• D) debit
• E) debit balance
• F) double-entry accounting
• G) footings
• H) normal balance
• I) \( T \) account
• J) trial balance

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Definitions:

Government Entity

An organization operated by the government.

Authoritative Body

An organization or institution that sets standards or rules in a specific field, exerting control or influence.

Accounting Principles

The rules and guidelines that companies must follow when reporting financial data, ensuring consistency, reliability, and comparability of financial statements.

FASB

The Financial Accounting Standards Board, an organization that establishes financial accounting and reporting standards in the United States.