What is the trial balance used to verify? A) Sum of debit entries = Sum of credit entries B) Sum of debit entries Sum of credit entries D) None of these.

Question

What is the trial balance used to verify?
A) Sum of debit entries = Sum of credit entries
B) Sum of debit entries < Sum of credit entries
C) Sum of debit entries > Sum of credit entries
D) None of these.

Quizplus · Accepted Answer

The trial balance is used to verify that the sum of all debit entries in the ledger equals the sum of all credit entries in the ledger. This helps to ensure that the accounting equation (assets = liabilities + equity) is in balance and that there are no errors in the recording of transactions. If the sum of debit entries does not equal the sum of credit entries, it indicates that there is an error that needs to be identified and corrected.

What Is the Trial Balance Used to Verify