Information for the Trial Balance Is Obtained from The

question 40

Multiple Choice

Information for the trial balance is obtained from the:

• A)journal.
• B)ledger.
• C)balance sheet.
• D)income statement.

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Definitions:

Assets Used

Refers to the assets that are employed or utilized in the operation of a business to generate revenue.

Earning Revenue

The process of generating income through the sale of goods, provision of services, or other business activities.

Expenses

The costs incurred by a business in the process of earning revenue.

Managerial Accountants

Professionals who focus on providing the financial information necessary for management to make decisions regarding the planning, direction, and control of an organization.