A trial balance is:
A)prepared before the posting process is completed.
B)a list of all accounts with their balances.
C)a list of balance sheet accounts with their balances.
D)a list of income statement accounts with their balances.

Question

Quizplus · Accepted Answer

A trial balance is a list of all accounts with their balances. It is prepared after the posting process is completed and is used to ensure the total debits equal the total credits in the accounting system. It includes both balance sheet and income statement accounts.

A Trial Balance Is