Question: 1. What does a T-account represent? What is the left side of the T-account called? What is the right side called?
2. What is a general ledger? How does it relate to the chart of accounts?
3. What is a trial balance? To what does the term "balance" refer?
4. If total debits equal total credits in the trial balance, does this indicate that all transactions have been properly accounted for? Explain.