The trial balance verifies the equality of debits and credits on a specific date.

Name: The trial balance verifies the equality of debits and credits on a specific date.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The trial balance is a statement that lists all the accounts and their balances at a specific date. It is used to verify whether the debits equal the credits in the accounting system. Therefore, the statement "the trial balance verifies the equality of debits and credits on a specific date" is true.

The Trial Balance Verifies the Equality of Debits and Credits