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