The statement relating to a trial balance that is incorrect is:

Question

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A trial balance is not meant to report the financial performance of a business but rather to test the equality of debits and credits in the ledger. The other statements are correct: A) A trial balance may be prepared at any time to test the equality of debits and credits in the ledger, C) The fact that the sum of the debit column equals the sum of the credit column does not guarantee that no errors have been made in the ledger, and D) A trial balance is a list of all the accounts in the ledger with their current balances.

The Statement Relating to a Trial Balance That Is Incorrect