Which of the Following Statements Regarding a Trial Balance Is

question 27

Multiple Choice

Which of the following statements regarding a trial balance is TRUE?

• A)A trial balance may be prepared at any time during the accounting period.
• B)A trial balance is a list of all accounts used in a business with their balances.
• C)A trial balance shows whether total debits equal total credits.
• D)All of the above are true.

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Definitions:

Inductive Reasoning

A method of reasoning in which general principles are inferred from specific observations.

Experimental Group

A group of subjects in an experiment who are exposed to the variable or intervention being tested, to assess its effect.

Independent Variable

Variable that is controlled by an experimenter in order to explore its relationship to a dependent variable.

Experimental Error

The variation in measurements that is attributed to the limitations in the experimental design and execution, often leading to deviations from true values.