The trial balance is used to determine whether:
A)total assets equal total liabilities.
B)total debits equal total credits.
C)total revenues plus gains equal total expenses plus losses.
D)total increases in accounts equal total decreases in accounts

Question

Quizplus · Accepted Answer

The trial balance compares the total debit amounts with the total credit amounts. If they are equal, it means that the accounting equation (assets = liabilities + equity) is in balance and that all transactions have been recorded correctly. A and C are related to the balance sheet and income statement, respectively, but they are not the main purpose of the trial balance. D is a general accounting principle, but it doesn't directly refer to the trial balance.

The Trial Balance Is Used to Determine Whether