The Purpose of a Trial Balance Is To

question 105

Multiple Choice

The purpose of a trial balance is to:

• A)Affirm whether the figures in the account ledgers are correct and balanced.
• B)Prepare a mock up of a real balance sheet.
• C)Review the income statement accounts.
• D)Meet a reporting requirement of the Securities and Exchange Commission SEC).

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Definitions:

Millionaire

An individual whose net worth or wealth is equal to or exceeds one million units of currency.

Well-being

The state of being comfortable, healthy, or happy, reflecting the overall quality of an individual's life.

Philosopher

An individual who seeks knowledge and understanding about fundamental questions of existence, ethics, knowledge, and reality.

Satisfaction

A feeling of fulfillment or contentment with one's achievements, possessions, or state of being.