Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 16 - No. 50)
What is the purpose of a trial balance?
To list all assets and liabilities.
To check the accuracy of the general ledger by ensuring debits equal credits.
To calculate net income or loss.
To summarize transactions for the year.
Explanation
A trial balance is used to ensure that the total debits equal the total credits in the general ledger.
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