A trial balance is prepared and the sum of the debits equals the sum of the credits. Which of the following conclusions is correct?
A) All of the transactions have been correctly posted.
B) The accounting equation is mathematically correct.
C) All errors have been found and corrected.
D) All of the account balances are correct.
Correct Answer:
Verified
Q61: general public generally does not see a
Q62: trial balance summarizes a ledger by listing
Q63: of the following is a method used
Q64: is a trial balance usually prepared?
A) After
Q65: Which of the following errors could be
Q67: Which of the following is TRUE of
Q68: A $250 payment on account was posted
Q69: A receipt of $300 cash on account
Q70: The credit side of an entry to
Q71: The purpose of a trial balance is
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