Multiple Choice
Which of the following is incorrect regarding a trial balance?
A) It proves that the debits equal the credits after posting.
B) It proves that the company has recorded all transactions.
C) A trial balance uncovers some errors in journalizing and posting.
D) A trial balance is useful in the preparation of financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
Q93: An accountant has debited an asset account
Q94: Devendra Company pays cash dividends of $600.The
Q95: A credit is not the normal balance
Q96: Transactions are entered in the ledger first
Q97: Deerhoof Company purchases equipment for $2,700 and
Q99: When journalizing, the reference column is<br>A)left blank.<br>B)used
Q100: Mt.Zion Inc.pays its employees twice a month,
Q101: An accounting record of the balances of
Q102: Debit and credit can be interpreted to
Q103: A general ledger should be arranged in