Randomly Listed Below Are the Steps for Preparing a Trial

question 104

Multiple Choice

Randomly listed below are the steps for preparing a trial balance: What is the proper order of these steps?

• A) (3), (2), (4), (1)
• B) (2), (3), (4), (1)
• C) (3), (2), (1), (4)
• D) (4), (3), (2), (1)

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Definitions:

Market Price

The existing cost for purchasing or selling an asset or service.

Net Income

The amount a company earns after deducting every cost, expense, and tax from its total income.

Price-Earnings Ratio

A valuation ratio of a company's current share price compared to its per-share earnings, used to evaluate if a stock is over or undervalued.

Market Price

The present rate at which a service or asset is being traded.