Multiple Choice
An accounting report that lists all assets, liabilities, and shareholders' equity accounts and their balances at a specific date is called a
A) trial balance.
B) general journal.
C) general ledger.
D) chart of accounts.
Correct Answer:
Verified
Correct Answer:
Verified
Q27: The chart of accounts is the framework
Q28: Accounting systems should record<br>A)all economic events.<br>B)events that
Q29: An expense account is a subdivision of
Q30: A trial balance is prepared<br>A)on a monthly
Q31: If a company has overdrawn its bank
Q33: For the basic accounting equation to stay
Q34: Which of the following is an asset?<br>A)Service
Q35: When a liability decreases:<br>A)the account is credited
Q36: An accountant has debited an asset account
Q94: The double-entry system of accounting refers to