Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 1 - No. 6)
What does it mean when the totals of the debit and credit columns in the trial balance are not equal?
a) The accounting equation is balanced.
b) There must be an error in the accounting records.
c) The business has made a profit.
d) The business has made a loss.
Explanation
Unequal debit and credit totals indicate an error.
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