If debits equal credits on the trial balance, it means that the trial balance is correct.

Name: If debits equal credits on the trial balance, it means that the trial balance is correct.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

While debits equaling credits on the trial balance is necessary for accuracy, it does not guarantee that the trial balance is correct. Errors such as double posting, omission, or recording transactions in the wrong account can still occur without affecting the balance between debits and credits.

If Debits Equal Credits on the Trial Balance, It Means