Multiple Choice
How many of the following statements regarding the trial balance are true?
A trial balance is included in the full set of external financial statements, just like an income statement.
If debits equal credits in the unadjusted trial balance, you have made no errors in preparing and posting journal entries.
The balances for each account reported on an unadjusted trial balance are determined by adding the amounts on the "+" side and subtracting the amounts on the "-" side of each ledger or T-account.
A) None
B) One
C) Two
D) Three
Correct Answer:
Verified
Correct Answer:
Verified
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