The purpose of a trial balance is to:
A)Affirm whether the figures in the account ledgers are correct and balanced.
B)Prepare a mock up of a real balance sheet.
C)Review the income statement accounts.
D)Meet a reporting requirement of the Securities and Exchange Commission SEC).

Question

Quizplus · Accepted Answer

The purpose of a trial balance is to ensure that the figures in the account ledgers are correct and balanced. This is done by adding up all of the debit balances and all of the credit balances in the ledger accounts and making sure that the two totals are equal.

The Purpose of a Trial Balance Is To