The purpose of the trial balance is to:
A)summarize all account balances.
B)determine that account balances are correct.
C)verify that total debits equal total credits.
D)all of the above.
E)A and C both pertain to the purpose of the trial balance.

Question

Quizplus · Accepted Answer

The purpose of the trial balance is to summarize all account balances (option A) and verify that total debits equal total credits (option C). Therefore, the best choice is E, which correctly identifies that options A and C pertain to the purpose of the trial balance. Option B is not entirely accurate since the trial balance does not necessarily determine that all account balances are correct, but rather only confirms that the debits equal the credits. Option D includes all of the above options, but it is not the best choice since option B is not entirely accurate.

The Purpose of the Trial Balance Is To