Identify the statement below that is true.
A. The trial balance is another name for the balance sheet as long as debits balance with credits.
B. A trial balance can replace the need for financial statements.
C. The trial balance presents net income for a period of time.
D. The trial balance is a list of all accounts from the ledger with their balances at a point in time.
E. Another name for the trial balance is the chart of accounts.
Answer: D
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