Which of the Following Statements Is True of a Trial

question 45

Multiple Choice

Which of the following statements is true of a trial balance?

• A)A trial balance is the first step in the accounting cycle.
• B)A trial balance is also known as a balance sheet.
• C)A trial balance is a list of all accounts with their balances.
• D)A trial balance is also known as the chart of accounts.

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Definitions:

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The change in the consumption patterns of goods or services due to a change in their relative prices, holding the consumer's income constant.

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