Tor F F (a) A trial balance is a financial statement. (b) A trial balance proves that each transaction was correct in both debit and credit amounts and accounts. (c) A trial balance proves that the ledger is 100% correct. (d) A trial balance lists each ledger account and its balance. (e) A "compound entry" involves more than one debit account and/or more than one credit account. (0) The "normal" balance of any account (either a debit or a credit) is the same as the way that you increase the account. (g) The cumulative profits that are kept within the company are known as Retained Earnings. (h) (1) (i) "Prepaid Insurance" or "Prepaid Rent" are assets since I already paid for them and therefore. I OWN the "right" to be insured or occupy the space accordingly. "Unearned Revenue" occurs when a customer "pays-in-advance" for work that has NOT yet been completed. Therefore, the business "OWES" the work. A "chart of accounts" lists the names and debit or credit balances of each account that is used in the business.