The purpose of a trial balance is to
A) affirm whether the figures in the account ledgers are correct and balanced.
B) prepare a mockup of a real balance sheet.
C) review the income statement accounts.
D) meet a reporting requirement of the Securities and Exchange Commission (SEC).

Question

Quizplus · Accepted Answer

The purpose of a trial balance is to affirm whether the figures in the account ledgers are correct and balanced. It is prepared by listing all the accounts and their balances to ensure that the debit balances equal the credit balances. This confirms the accuracy and completeness of the accounting records.

The Purpose of a Trial Balance Is to