A trial balance:
A) cannot be corrected if it contains errors.
B) proves that all transactions have been recorded properly.
C) proves that total debits equal total credits.
D) should be prepared at the end of each business day.

Question

Quizplus · Accepted Answer

A trial balance is a list of all accounts and their balances. Its purpose is to verify that the total debits equal the total credits in the accounting system, which proves that all transactions have been recorded properly. Errors can be corrected by locating and correcting the source of the discrepancy. It is typically prepared at the end of an accounting period, such as a month or year, rather than every business day.

A Trial Balance