Customarily, a trial balance is prepared

Question

Quizplus · Accepted Answer

A trial balance is prepared at the end of an accounting period to ensure that the debit total and credit total of all account balances match. This helps to identify any errors or discrepancies in the accounts before preparing financial statements. Option A and B would require preparing multiple trial balances within the accounting period, which is not necessary. Option D is incorrect as a trial balance is prepared after the business has begun operations and has transactions to record.

Customarily, a Trial Balance Is Prepared