Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 48 - No. 8)
A trial balance is prepared at the end of the accounting period and which of the following will be a necessary step?
Preparing adjusting entries.
Closing the nominal ledger accounts.
Balancing off the cash book and all the ledger accounts at the end of the accounting period.
Preparing the income statement and balance sheet.
Explanation
The first step in preparing a trial balance is to balance off the cash book and all the ledger accounts at the end of the accounting period.
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