If the sum of the debit column equals the sum of the credit column in a trial balance it indicates
A) no errors have been made.
B) no errors can be discovered.
C) that all accounts reflect correct balances.
D) the mathematical equality of the accounting equation.

Question

Quizplus · Accepted Answer

The sum of the debit column must always equal the sum of the credit column in a trial balance due to the fundamental accounting equation (assets = liabilities + equity). Therefore, a trial balance with equal debits and credits indicates the mathematical equality of the accounting equation. However, it does not guarantee that no errors have been made or that all accounts reflect correct balances. Errors may still exist if the wrong amounts were posted to the wrong accounts or if there are errors of omission.

If the Sum of the Debit Column Equals the Sum