The primary purpose of a trial balance is to
A) determine that the total debits and total credits entered in the general ledger accounts during the period are equal.
B) obtain assurance that accounting records are correct.
C) summarize information from journal entries by specific accounts.
D) convert accounting records from cash basis accounting to accrual basis accounting.
E) Answers a and b are correct.
Correct Answer:
Verified
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Q34: Dividends cause
A) expenses to increase.
B) net income
Q36: In a trial balance,
A) all accounts contained
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Q38: The prepayment of an expense item is
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Q40: A company records interest that it owes,
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