Which of the following is incorrect regarding a trial balance?
A) It proves that the debits equal the credits after posting.
B) It proves that the company has recorded all transactions.
C) A trial balance uncovers errors in journalizing and posting.
D) A trial balance is useful in the preparation of financial statements.
Correct Answer:
Verified
Q152: Posting of journal entries should be done
Q153: A trial balance will not balance if
A)
Q154: Which of the following is true?
A) Transaction
Q155: The double-entry accounting system is the basis
Q156: Which of the following are the same
Q158: Sara Bernheat withdraws $700 cash from her
Q159: Under IFRS the trial balance
A) follows the
Q160: Fair value is relied on
A) less under
Q161: Under a double-entry system show how
Q162: The following transactions took place for Tanaka
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