Under IFRS the trial balance
A) follows the same format as under GAAP.
B) shows credits on the left and debits on the right.
C) includes less accounts than under GAAP.
D) includes more accounts than under GAAP.

Question

Quizplus · Accepted Answer

Under IFRS, the trial balance follows the same format as under GAAP, meaning that it shows debits on the left and credits on the right. The trial balance under IFRS includes the same accounts as under GAAP, so there are not less or more accounts.

Under IFRS the Trial Balance