The accounting reporting period agrees to the calendar year.
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If the trial balance shows that the ledger is in balance, this means that the individual business transactions were recorded to the appropriate ledger accounts.
A. 对
B. 错
The most important output of the accounting cycle is the financial statements.
A. 对
B. 错
Prepaid Insurance is an example of a current asset.
A. 对
B. 错
Accrued taxed payable are generally recorded on the balance sheet as a current liability.
A. 对
B. 错