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:

Report

A document that presents information in an organized format for a specific audience and purpose, often involving analysis or research findings.

Use

The act of employing something for a particular purpose.

Prejudge

To make a decision or form an opinion about something or someone before having all the relevant information or facts.

Quality

The degree to which a product, service, or process meets specified standards or fulfills customer expectations.