A Trial Balance Is A(n)

question 158

Multiple Choice

A trial balance is a(n)

• A)optional financial statement used only by accountants.
• B)financial statement that can be used in place of a balance sheet.
• C)list of accounts.
• D)document used to prove the equality of debits and credits in the general ledger.

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Definitions:

Machine Hours

A measure of production output or activity level, using the total hours that machinery is operated as the unit of measure.

Machine Hours

The total running time of a machine during a specific period, often used as a basis for allocating manufacturing overhead.

Annual Overhead Costs

The total expenses related to the operation of a business that are not directly tied to a specific product or service, accumulated yearly.

Overhead Applied

An accounting method that allocates overhead costs based on a predetermined rate to individual products or job orders.