Which of the following statements is false?
A)A trial balance proves no errors were made during the accounting process.
B)A trial balance is a list of all accounts in the ledger with their balances.
C)A trial balance provides a check on the equality of debits and credits.
D)A trial balance may be taken at any time the postings are up to date.

Question

Quizplus · Accepted Answer

A trial balance only proves that the total debits equal the total credits, not that no errors were made. Errors such as omitting a transaction, duplicating entries, or recording in the wrong account can still occur even if the trial balance balances.

Which of the Following Statements Is False