Which of the Following Best Describes a Trial Balance

- April 24, 2022

1 It is a check on the accuracy of posting. It has the same information in it as the balance sheet.

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It ensures that each item is recorded in the proper account.

. Which of the following best describes trial balance. It ensures that all items have been recorded. 2 It brings all the accounts at one place to facilitate the preparation of financial statement.

Which of the following best describes the trial balance. Which of the following best describes a trial balance. Answer choices It shows the financial position of a business It shows the profit or loss of a business It is a list of ledger account.

It is a special account B. To facilitate posting and taking a trial balance. This best describes the trial balance.

3 The trial balance is prepared to check the - of all ledger account balances. Preparation of adjustment adjusted trial balance financial statements b. If the debit side and credit sides agrees it proves that books are arithmetically correct.

It shows all the. Which of the following best describes a trial balance. Which of the following best describes a trial balance.

It is not fully finished revisions and additional journal entries are missing eg. Is the final account in the books D. Is a list of.

It is a list of balances in the books C. B It is a special account. Discloses the financial position of a business C.

A Is formal financial statement b Is used to prove that there are no errors in the journal or ledger c Provides a listing of every account in the chart of accounts d Provide. It has the same information in it as the balance. It reveals the financial position of a business D.

Debts to equal credits. Which of the following describes a trial balance. There are two main objectives of preparing trial balance.

4 is the basis for preparing the final accounts. To reduce the balances of revenue and expense accounts. Discloses the financial position of a business C.

Is the final account in the books D. C Shows the financial position of a business. Provides a mathematical check.

Which of the following best describes a trial balance. Which of the following best describes a trial balance. 2 on a question.

Which of the following best describes a trial balance. Which of the following best describes the trial balance. A It is a list of balances on the books.

2 In a trial balance the total of debit balances should be equal to the total of -. Its a list of all the debit balances and credit balances in the ledger. Which of the following best describes the trial balance.

An unadjusted trial balance is prepared by companies that make adjusting entries while an adjusted trial balance is prepared by companies that do not make adjusting entries. Or not reviewed. It s a list of all the debit balances and credit balances in the ledger.

Provides a mathematical check before the financial statements are prepared. To determine the amount of net income or net loss for the period. During the end-of-period processing which of the following best describes the logical order of stepsa.

An unadjusted trial balance is prepared before the adjusting entries have been made while an adjusted trial balance is prepared after the adjusting entries have been made. Bank has a credit balance in trial balance which of the following best describes the trial. Trial balance is a statement which shows the_____ or the_____ of all the accounts.

Unadjusted trial balance. A Is formal financial statement b Is used to prove that there are no errors in the journal or ledger c Provides a listing of every account in the chart of accounts d Provide. Its a list of all the debit balances and credit balances in the ledger.

Prepare A Trial Balance Principles Of Accounting Volume 1 Financial Accounting