Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 16 - No. 5)
What is a characteristic of a trial balance?
It lists all transactions.
It is a summary of account balances.
It ensures the accounting equation is not balanced.
It is used to calculate the profit or loss for an accounting period.
Explanation
A trial balance is a list of account balances on a specific date.
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