The trial balance is used to determine if:
A) total assets equal total liabilities.
B) total debits equal total credits.
C) total revenues equal total expenses.
D) total increases in accounts equal total decreases in accounts.

Question

Quizplus · Accepted Answer

The purpose of a trial balance is to ensure that the total of all debits equals the total of all credits. This is done by listing all accounts with their respective debit or credit balances, and then adding up the totals of both columns. If the totals match, the trial balance is considered balanced, which indicates that the accounting records are accurate and free of errors. Note that while the trial balance can help detect certain types of errors, it does not guarantee that all transactions have been recorded correctly, nor that the financial statements are complete or accurate.

The Trial Balance Is Used to Determine If