Post Utme Wellspring University 2017 Accounting Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2017 Accounting Objective / Multiple Choice
Question 3 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • ACCOUNTING • objective

A company prepares a trial balance as part of its accounting process. Which of the following is a characteristic of a trial balance?

Answer Options

A. It is a list of all accounts with their respective debit and credit balances
Correct Answer B. It is a list of all accounts with their respective debit and credit balances, and is used to identify any errors in the accounting process
C. It is a list of all accounts with their respective debit and credit balances, and is used to prepare the financial statements
D. It is a list of all accounts with their respective debit and credit balances, and is used to prepare the budget
Correct Answer
B
Correct Option:
It is a list of all accounts with their respective debit and credit balances, and is used to identify any errors in the accounting process

About This Question

This is Post Utme Wellspring University 2017 Accounting Question 3. It is one of the objective questions from the 2017 Post Utme Wellspring University Accounting examination.

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