Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 23 - No. 42)
Which of the following statements is true about a trial balance?
It is a substitute for the income statement and balance sheet.
It helps to identify errors in the accounting records.
It is primarily used to calculate the company's profit or loss.
It lists only the assets and liabilities of a company.
Explanation
The main purpose of a trial balance is to find errors in the accounting records.
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