Unformatted text preview: Accounting Period is called the Accounting Cycle. F 10. The largest transaction occurring during the Accounting Period is always entered first in the General Journal. T 11. For each entry in the General Journal, the total dollar amount of the debits and the total dollar amount of the credits must always be equal. F 12. The Balance Sheet is produced from the account balances shown in the General Journal. T 13. The Balance Sheet is produced from the account balances shown in the General Ledger. T 14. The primary reason the accountant prepares a Trial Balance is to determine if the accounting system is in balance....
View Full Document
This note was uploaded on 12/17/2010 for the course ACC 311 taught by Professor Charrier during the Fall '08 term at University of Texas.
- Fall '08
- Trial Balance