15 Feb A Trial Balance can be used for all of the following, except for: To verify that each account has the correct “normal” balance. To guarantee that there are no errors in the account
a.) A Trial Balance can be used for all of the following, except for:
To verify that each account has the correct “normal” balance.
To guarantee that there are no errors in the accounting records.
To determine if there are any unusual account balances.
To verify that total debits equal total credits.
To determine the ending balance for each account.
b.) What do Unearned Revenue accounts represent?
Promises of payments by customers.
Revenues that have been earned but not yet collected in cash.
Revenues that have been earned and received in cash.
Customer payments in advance for future services or products.
Promises of payments by vendors.
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