A trial balance is:

Question

A trial balance is:

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A trial balance is a list of all accounts with their balances. This list includes both balance sheet accounts (assets, liabilities, and equity) and income statement accounts (revenues and expenses). It is prepared after all transactions have been journalized and posted to the ledger accounts, and before the financial statements are prepared. The purpose of the trial balance is to ensure that the total debits equal the total credits and to identify any errors in recording or posting transactions.

A Trial Balance Is