Practice Quiz 3B
Complete the following quiz for the lesson: Accounting Cycle Part 1
A general ledger *
1 point
Recorded transactions are posted from a company's trial balance to its general journal. *
1 point
A company's trial balance reflects the ending balance amounts of all of its general ledger accounts, whether they are debit or credit balances. *
1 point
A company's trial balance will balance when the total debit balances equal the total credit balances of all accounts included in the company's general ledger. *
1 point
When a trial balance balances it means that the ending balances in the various accounts are correct. *
1 point
A company's financial statements could be prepared directly from a company's general ledger without the use of a trial balance. *
1 point
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