If the debit and credit column totals of a trial balance are equal, then: Multiple...

70.2K

Verified Solution

Question

Accounting

If the debit and credit column totals of a trial balance are equal, then:

Multiple Choice

  • Total assets would equal total liabilities and stockholders equity

  • All accounts have the correct balance in the general ledger.

  • All the accounts received journal entries for the correct amount.

  • The closing process would not be necessary.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students