A trial balance includes only the balance sheet accounts;income statement accounts are not included on a trial balance.
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Q34: Every transaction that affects an income statement
Q35: Steps in the accounting cycle include (1)prepare
Q36: The accrual basis of accounting recognizes expenses
Q37: A business that is profitable and liquid
Q38: Which of the following is not a
Q40: The accounting cycle begins with:
A)Posting of journal
Q41: [The following information applies to the questions
Q42: The journal entry to record a particular
Q43: The purchase of equipment on credit is
Q44: Collection of an accounts receivable:
A)Increases the total
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