A report that lists a business's accounts and their balances, in which the total debit balances should equal the total credit balances, is called a(n):
A) Trial balance.
B) Account balance.
C) General Journal.
D) Ledger.
E) Chart of accounts.

Question

Quizplus · Accepted Answer

A trial balance is a report that lists all the accounts of a business and their balances, with the total debit balances being equal to the total credit balances. This report is used to ensure that the accounting entries are correct and the books are in balance. The other options (B, C, D, E) are not correct as they do not match the criteria mentioned in the question.

A Report That Lists a Business's Accounts and Their Balances