Identify the statement below that is true.
A. The trial balance is a list of all accounts from the ledger with their balances at a point in time.
B. The trial balance presents net income for a period of time.
C. The trial balance is another name for the balance sheet as long as debits balance with credits.
D. Another name for the trial balance is the chart of accounts.
E. A trial balance can replace the need for financial statements.

Question

04-02-2020
Business

contestada

Identify the statement below that is true.
A. The trial balance is a list of all accounts from the ledger with their balances at a point in time.
B. The trial balance presents net income for a period of time.
C. The trial balance is another name for the balance sheet as long as debits balance with credits.
D. Another name for the trial balance is the chart of accounts.
E. A trial balance can replace the need for financial statements.

Respuesta :

Otras preguntas

Which of these is an evaluative claim? A. A contrast between youth and age is the focal point of the story. B. A host of natural imagery artistically depicts

Peyer patches are large accumulations of malt located only in the

how to increase a number by 20%

Evans Products uses a process costing system with two processing departments: the Mixing Department and the Finishing Department. In June, unit costs incurred b

The ladder forms a right triangle with legs 5 feet and 12 feet. How long is the ladder?

What conclusion can be drawn about this scene based on the narrator's decision to write in the first-person point of view? The narrator experienced this event i

Analyze and evaluate how natural selection produces change in populations as opposed to individuals.

Which is a constitution

What is the solution of x^2-1/x^2+5x+4<_0

Objects with higher temperatures:________________.1. emit only shortwave radiation. 2. emit most of their energy in the form of longwave energy. 3. radiate less

osondumartins osondumartins · Answer 1 · 2020-02-04T07:15:38+01:00

Answer:A. The trial balance is a list of all accounts from the ledger with their balances at a point in time.

Explanation: Trial balance contains a list of all accounts from the ledger and their balances at a given point in time,in a trial balance all the Debits are summer up one column and all the credits are summed up in another column to ensure that they balance out.

Trial balance tries to show errors encountered when journaling, posting transactions of a business entity when manually entered. Recently their are softwares available to prevent this type of clerical errors.