A trial balance summarizes a ledger by listing all the accounts with their balances at a point in time.

Name: A trial balance summarizes a ledger by listing all the accounts with their balances at a point in time.
Brand: Quizplus
Rating: 5.0 (33 reviews)

Question

Quizplus · Accepted Answer

A trial balance is a statement that lists all the accounts with their balances at a given date. It is used to check the accuracy of the ledger and to prepare financial statements.

A Trial Balance Summarizes a Ledger by Listing All the Accounts