If the Debit and Credit column totals of a trial balance are equal, then
A) All transactions have been recorded correctly.
B) All entries from the journal have been posted to the ledger correctly.
C) All ledger account balances are correct.
D) The total debit entries and total credit entries in the ledger are equal.
E) No sliding or transposition errors have been made.

Question

Quizplus · Accepted Answer

The equality of debit and credit column totals in a trial balance only ensures that the total debit entries and total credit entries in the ledger are equal. It does not guarantee the accuracy of individual transactions, correct posting from the journal to the ledger, the correctness of ledger account balances, or the absence of errors such as sliding or transposition errors.

If the Debit and Credit Column Totals of a Trial