A trial balance
A)proves that debits and credits are equal in the ledger.
B)supplies a listing of open accounts and their balances that are used in preparing financial statements.
C)is normally prepared three times in the accounting cycle.
D)all of these.

Question

Quizplus · Accepted Answer

A trial balance proves that debits and credits are equal in the ledger and supplies a listing of open accounts and their balances that are used in preparing financial statements. It is normally prepared at the end of an accounting period, before adjustments and at the end of the accounting cycle. Therefore, option D is the best choice.

A Trial Balance