Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 18 - No. 11)
What is the purpose of a 'trial balance'?
To list all of the company's transactions.
To ensure that the accounting equation is balanced.
To calculate profit or loss.
To prepare the financial statements.
Explanation
The trial balance verifies that debits equal credits, upholding the accounting equation.
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