When the House and the Senate Coordinate Two Versions of the Same

question 45

Multiple Choice

When the House and the Senate coordinate two versions of the same bill,they will often use a ______ to obtain a single unified bill.

• A) joint committee
• B) conference committee
• C) reconciliation committee
• D) standing committee
• E) select committee

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Definitions:

Adjusted Trial Balance

A listing of all company accounts that will appear on the financial statements after adjustments have been made for errors, accruals, and deferrals.

Ledger

The principal book or computer file for recording and totaling economic transactions by account type, with debit and credit account records validated by a trial balance.

Unadjusted Trial Balance

A preliminary report that lists all the balances of a company's accounts before making any adjusting entries.

Post-Closing Trial Balance

A list of all the account balances of a business after closing entries for the accounting period have been made, ensuring the accounts are ready for the next period.