Which of the following statements is true of a trial balance?
A) A trial balance has the same format as a balance sheet.
B) A trial balance presents data in debit and credit format.
C) A trial balance shows the total amounts of assets and liabilities, but not equity.
D) A trial balance is prepared after the balance sheet.
B
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An exchange of plant assets has commercial substance if the future cash flows change as a result of the transaction
Indicate whether the statement is true or false
Which of the following statements about sales forecast accuracy is true?
A. Combining sales forecasts that were developed using different techniques actually creates a less accurate forecast B. The subjective methods of forecasting are most accurate for sales forecast with a short time horizon C. Researchers have concluded that the method of sales forecasting used made little difference with respect to forecast accuracy D. The objective methods of forecasting are most accurate when the database is skimpy and forecast errors are likely to cause large losses E. Sales managers cannot overemphasize the need for sales forecasts to be accurate