The Trial Balance Is Used to Determine If

question 169

Multiple Choice

The trial balance is used to determine if:

• A)total assets equal total liabilities.
• B)total debits of all the accounts equal total credits of all the accounts.
• C)total debits of the income statement accounts equal the total credits of the income statement accounts.
• D)total debits of the balance sheet accounts equal the total credits of the balance sheet accounts.

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Definitions:

Alien and Sedition Acts

A series of laws passed in 1798 by the Federalist Congress and signed by President Adams, which made it harder for immigrants to become citizens and allowed for the imprisonment and deportation of those deemed dangerous or from enemy nations, and criminalized making false statements that were critical of the federal government.

Thomas Jefferson

An American Founding Father, the principal author of the Declaration of Independence (1776), and the third President of the United States (1801–1809).

Salem Witch Trials

A crisis of trials and executions in Salem, Massachusetts, in 1692 that resulted from anxiety over witchcraft.

Whiskey Rebellion

A tax protest in the United States beginning in 1791, during the presidency of George Washington, caused by a federal tax on distilled spirits.