Which of the following financial reports determines if the accounting equation is in balance?

Question

Quizplus · Accepted Answer

The trial balance is a financial report that lists all of a company's accounts with their current balances. Its purpose is to ensure that the total debits equal the total credits, which means that the accounting equation (Assets = Liabilities + Equity) is in balance. If the debit and credit columns do not equal each other, it indicates that there is an error in the accounting records that needs to be corrected.

Which of the Following Financial Reports Determines If the Accounting