Which of the Following Statements Regarding a Trial Balance Is

question 59

Multiple Choice

Which of the following statements regarding a trial balance is false?

• A) A trial balance may be taken at any time the postings are up to date.
• B) A trial balance is a list of all accounts with their balances.
• C) A trial balance is the same as a balance sheet.
• D) A trial balance provides a check on the equality of debits and credits.

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Definitions:

Availability

The condition of being accessible or obtainable.

Private Resource

Resources owned by individuals or companies, not by the government or public institutions.

Incentives

Factors, monetary or non-monetary, that motivate individuals to perform actions that they might not otherwise choose to do.

Efficiently

Achieving a goal or producing output with the minimum amount of waste, expense, or unnecessary effort.