On a trial balance, if the Debit and Credit column totals are equal, then:

A. All entries from the journal have been posted to the ledger correctly.
B. Equal debits and credits have been recorded for transactions.
C. All ledger account balances are correct.
D. All transactions have been recorded correctly.
E. The balance sheet would be correct.


Answer: B

Business

You might also like to view...

________ is one of the critical mistakes made in closing a sale.

A. Too much talking B. Adopting a flippant approach C. Excessive marketing D. Geographic segmentation E. Standardized presentation

Business

A similarity between materials requirement planning (MRP) and distribution resource planning (DRP) is that both inventory systems:

a. require the manufacturer to keep inventory levels as high as possible. b. help manage inventory from manufacturer to end user rather than from the suppliers to the manufacturer. c. use various inputs, such as sales forecasts, available inventory, and so on, to determine what needs to be done to replenish goods at all points in the supply chain. d. prohibit the use of buffer stocks as insurance against unexpected demand increases.

Business

A positive error implies that a forecast was?

a. Too low b. Too high c. Neither too low nor too high d. The sign of an error gives no information as to the direction of the error

Business

Actively sharing HR metrics and workforce analytics information with managers via e-mail is called ______.

a. putting HR metrics and analytics data in context b. push systems of reporting c. bottom line reports d. benchmarking

Business