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, with debits on the left and credits on the right. The trial balance includes the same number of accounts as under GAAP or even more, depending on the company's accounting policies.

Under IFRS, the Trial Balance