Customarily a trial balance is prepared
A) at the end of each day.
B) after each journal entry is posted.
C) at the end of an accounting period.
D) only at the inception of the business.

Question

Quizplus · Accepted Answer

A trial balance is prepared at the end of an accounting period (usually monthly, quarterly, or annually) to ensure that the total debits and credits in the ledger accounts are equal and to identify any potential errors or omissions in the accounts. It is not prepared daily or after each journal entry, and it is not only prepared at the inception (beginning) of the business.

Customarily a Trial Balance Is Prepared