Which of the following is a listing of all the account balances at a specific point in time?

Question

Quizplus · Accepted Answer

A trial balance is a listing of all the account balances at a specific point in time. The other options (A, B, and C) are not a listing of all account balances, but rather tools or statements used in accounting. The Statement of Financial Position (A) is also known as the balance sheet and shows a company's assets, liabilities, and equity at a specific point in time. The chart of accounts (B) is a list of all the accounts a company uses in its accounting system. The general ledger (C) is a record of all financial transactions of a company and serves as the main data source for creating financial statements.

Which of the Following Is a Listing of All the Account