A trial balance is a(an)
A) optional financial statement used only by accountants.
B) financial statement which can be used in place of a balance sheet.
C) list of accounts and their balances taken from the chart of accounts.
D) document used to prove the equality of debits and credits in the general ledger.

Question

Quizplus · Accepted Answer

A trial balance is a document used to prove the equality of debits and credits in the general ledger. It lists all the accounts and their balances, and is prepared before the financial statements are generated in order to identify any errors or imbalances in the accounts. It is a key tool for ensuring the accuracy of financial records.

A Trial Balance Is A(an)