A trial balance can be described as:
A) A list of general ledger account titles and balances at a certain date
B) A grouping of the accounts used by an organization to prepare its basic financial statements
C) A record on which are recorded the increases and decreases of a particular financial statement component, such as cash
D) One of the basic financial statements of an organization
E) None of the above

Question

Quizplus · Accepted Answer

A trial balance is a list of general ledger account titles and balances at a certain date, used to ensure that debits equal credits in the accounting system.

A Trial Balance Can Be Described As