Of the following, which is an internal report that will determine if the total of the debit balances equal the total of the credit balances in the ledger?
A) chart of accounts
B) income statement
C) trial balance
D) horizontal analysis

Question

Quizplus · Accepted Answer

The internal report that will determine if the total of the debit balances equal the total of the credit balances in the ledger is the trial balance. The chart of accounts is a listing of all the accounts used in the accounting system, the income statement shows revenues and expenses over a specific period, and horizontal analysis compares financial statements over multiple periods.

Of the Following, Which Is an Internal Report That Will