Multiple Choice
If your trial balance has a higher debit balance than credit balance, it signifies:
A) Assets are more than liabilities.
B) A profit.
C) A loss.
D) An error has been made.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q40: In accounting,the terms debit and credit indicate,respectively:<br>A)Increase
Q74: Double-entry accounting<br>The accounting system of most businesses,whether
Q124: The <i>recognition principle</i> indicates that revenue usually
Q125: Ben Dryden, president of Jet Glass Limited,
Q126: The following transactions occurred during May, the
Q128: The bookkeeper for Wood Mfg. made
Q130: Montauk Oil Co. reports these account
Q131: The journal entry to record a particular
Q132: What type of account will normally contain
Q133: The bookkeeper for Wood Mfg. made