Preparation of a trial balance is the first step in processing a financial transaction.

Name: Preparation of a trial balance is the first step in processing a financial transaction.
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Quizplus · Accepted Answer

Preparation of a trial balance is not the first step in processing a financial transaction. The first step is to record the transaction in the journal. The trial balance is prepared later to ensure that the debits equal the credits in the ledger accounts.

Preparation of a Trial Balance Is the First Step in Processing