Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 9 - No. 36)
What is the purpose of the trial balance?
To ensure the total value of debits equals the total value of credits.
To calculate the company's profits.
To showcase the company's revenue.
To display the company's expenses.
Explanation
A trial balance ensures debits equal credits to determine whether accounts are in balance and ready for financial statement preparation.
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