When is a trial balance usually prepared?

A$)$ at the beginning of an accounting period

B$)$ after the financial statements are prepared C$)$ after each entry is

journalized

D$)$ before the financial statements are prepared

Which of the following is assessed using the debt ratio?

A$)$ risk of default

B$)$ profitability

C$)$ net income

D$)$ revenues

If a company is using accrual basis accounting, when should it record revenue?

A$)$ when services are performed, even though cash may be received at a later dater B$)$

before services are performed

C$)$ when cash is received, even though services may be performed at a later date

D$)$ when cash is received, $30$ days after the completion of the services