Which Statement Relating to a Trial Balance Is Incorrect

question 18

Multiple Choice

Which statement relating to a trial balance is incorrect?

• 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 position 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:

Z-Scores

Standardized scores that indicate how many standard deviations an observation is from the mean of a distribution.

Z-Score

A measure showing how many standard deviations an element is from the mean.

Z-Scores

Standardized scores that indicate the number of standard deviations an element is from the mean of its distribution.

Standard Deviations

A measure that quantifies the amount of dispersion or variation of a set of data values from the mean.