Question

What is the trial balance used for?

A It is a financial statement Correct Answer Incorrect Answer
B It records balances of a balance sheet Correct Answer Incorrect Answer
C It doesn’t contribute to the accounting cycle Correct Answer Incorrect Answer
D It records balances of accounts Correct Answer Incorrect Answer

Solution

The trial balance is used to check the accuracy of the financial records of a business by verifying that the total debits equal the total credits.

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