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Lisa [10]
4 years ago
15

Which of the following does not describe a trial balance? a. Proves that all transactions have been recorded b. Proves the mathe

matical equality of debits and credits after posting c. Assists in the preparation of the financial statements d. May uncover errors in journalizing and posting
Business
1 answer:
FromTheMoon [43]4 years ago
7 0

Answer:

Statement which doesn't describe a trail balance is: Option A: Proves that all transactions have been recorded.

Explanation:

A Trial balance lists the accounts and their balances. It is like an internal control made by the accountants to check general ledger's accuracy. It extracts the list of debit and credit balance from the ledger and adds them.  They should be equal else some error has been made. These errors might be human. It doesn't prove that company has recorded all its transactions.

So, all statements are correct describing trial balance except Option A.

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Discuss the differences between the short run equilibrium and long run equilibrium from the perspective of producers and from th
ehidna [41]

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Explanation:

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3 0
3 years ago
Burton Pharmaceuticals is a fast-growing drug company based in Dallas. Top executives at Burton realize that human capital plays
Jobisdone [24]

Answer:

C) HR representatives attend merger and acquisition discussions.

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3 years ago
Discount Mart borrows $400,000 on July 1 with a short-term loan that has an annual interest rate of 6% payable on the first day
adelina 88 [10]

Answer:

C. $6,000; Increase expenses, increase liabilities

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The computation is shown below:

= Borrowed amount × rate of interest × given months ÷ Total months

= $400,000 × 6% × 3 months ÷ 12 months

= $6,000

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3 years ago
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hichkok12 [17]

<u>Answer:</u>

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