Register now or log in to join your professional community.
a. Is a 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. Provides a listing of the balance of each account in active use.
Option D,
But I would suggest a correction in the answer, trial Balance shows the "Closing Balances" of all the active accounts of the Company.
d. Provides a listing of the balance of each account in active use.
D.
D. provides a listing of the balance of each account having amount. It useful in preparation of financial statement.
We all agree about (( D )) but why and when we need T.B. , first we need T.B. as it list all the chart of account and balances of it as well , that will lead us why ? because we can use it to make P& L and B.S. from it , meaning we can use one Report to make for it the other2 F.S. to save time and effort as well.
D
Option C and D , both are correct but most appropriate is D
D.
