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:

Beginner's Mind

An approach to life and learning characterized by openness, eagerness, and lack of preconceptions, even at advanced levels of achievement.

Zen Master Suzuki

A reference to Shunryu Suzuki, a Sōtō Zen monk and teacher who helped popularize Zen Buddhism in the United States in the 20th century.

Neurologically Active

Substances or processes that have an effect on the nervous system's function.

Traditional Practices

Customs and ways of doing things that have been passed down through generations within a culture or community.