Q104
Which of the following is true about a trial balance?
A.
It lists down the balances of accounts
AnswerB.
It lists down the balances of a balance sheet
C.
It is a kind of financial statement
D.
It is not a part of accounting cycle
Answer: Option A
Solution
Answer: Option A
Solution:
Trial balance It lists down the balances of accounts. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column.