Which of the following sequences states the order in which a trial balance lists accounts?
A)Equity → Assets → Liabilities
B)Liabilities → Assets → Equity
C)Assets → Equity → Liabilities
D)Assets → Liabilities → Equity

Question

Quizplus · Accepted Answer

The standard order for a trial balance is assets first, followed by liabilities and then equity. This is because assets are listed in order of liquidity and liabilities are listed in order of maturity. Finally, equity is listed since it represents the residual value of the company after all liabilities are paid off.

Which of the Following Sequences States the Order in Which