The purpose of a trial balance is to prove the equality of debits and credits.

Question 22 options:

	TRUE
	FALSE

Question 23 (4 points)

Each business has it's own chart of accounts, but they are all formatted similarly with sections for assets, liabilities, owner's equity, revenues, and expenses.

Question 23 options:

	TRUE
	FALSE

Question 24 (4 points)

One way of stating the accounting equation is Assets = Liabilities - Owners Equity.

Question 24 options:

	FALSE
	TRUE

Question 25 (3 points)

The journal is a set of accounts to which we post the transactions.

Question 25 options:

	TRUE
	FALSE

Question 26 (3 points)

Wholesalers are manufacturers who make products from raw materials.

Question 26 options:

	True
	False