Which of the Following Statements Is True of a Trial

question 160

Multiple Choice

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

• A)A trial balance has the same format as a balance sheet.
• B)A trial balance presents data in debit and credit format.
• C)A trial balance shows the total amounts of assets and liabilities,but not equity.
• D)A trial balance is prepared after the balance sheet.

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Definitions:

Short-sighted

lacking foresight or perspective; making decisions based on immediate rather than long-term outcomes.

Synergy

The interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.

Organizational

Pertaining to the structure and functioning of an organization, including its systems, processes, and dynamics.

Management

The process of planning, organizing, leading, and controlling resources to achieve organizational goals efficiently and effectively.