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 answer choices are correct.

Question

Quizplus · Accepted Answer

A trial balance proves that debits and credits are equal in the ledger, supplies a listing of open accounts and their balances that are used in preparing financial statements, and is normally prepared three times in the accounting cycle. Therefore, all of these answer choices are correct.

A Trial Balance