The Totals in the Balance Sheet Accounts Reflect Which of the Following

question 73

Multiple Choice

The totals in the balance sheet accounts reflect which of the following?

• A)They reflect all the transactions recorded during the year.
• B)They reflect only the totals in the accounts on the last day of the year.
• C)They do not reflect the net amount of the transactions recorded during the year.
• D)They reflect the total that the auditor is responsible for gathering evidence to support.

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