The Statement Relating to a Trial Balance That Is Incorrect

question 13

Multiple Choice

The statement relating to a trial balance that is incorrect is:

• A)A trial balance may be prepared at any time to test the equality of debits and credits in the ledger
• B)A trial balance reports the financial performance of a business
• C)The fact that the sum of the debit column equals the sum of the credit column does not guarantee that no errors have been made in the ledger
• D)A trial balance is a list of all the accounts in the ledger with their current balances

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Definitions:

Markdowns

A reduction from the original or previous selling price of goods or services, often to clear inventory or boost sales.

Survival

The ability of an individual, organism, or organization to continue existing, often despite facing difficult or challenging circumstances.

Customer Satisfaction

The degree to which customers are happy with a company's products, services, and capabilities.

Merchandise Returns

The process of a customer returning previously purchased goods back to the retailer or supplier, usually due to issues like dissatisfaction, defects, or unmet expectations.