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

Question

Quizplus · Accepted Answer

A trial balance is a report that lists all of the accounts in the ledger along with their balances. It is used to ensure that the total debits match the total credits, indicating that the accounting records are in balance. The other options are not specific to this type of financial statement.

A Report That Lists Accounts and Their Balances, in Which