A ________ is a summary of all the financial data in the account ledgers.
A) Ledger entry
B) Journal entry
C) Trial balance
D) Balance of accounts

Question

Quizplus · Accepted Answer

A trial balance is a summary of all the financial data in the account ledgers. It lists all accounts and their balances, verifying that the total of all debit balances equals the total of all credit balances. Ledger entry and journal entry refer to specific transactions recorded in the accounting system. Balance of accounts is not a commonly used term in accounting.

A ________ Is a Summary of All the Financial Data