The proof that the debits and credits in the ledger are equal is called the
A) trial balance.
B) journal.
C) statement of owner's equity.
D) income statement.
E) balance sheet.

Question

Quizplus · Accepted Answer

The proof that the debits and credits in the ledger are equal is called the trial balance. It is a list of all the accounts in the ledger with their debit or credit balances. The purpose of the trial balance is to ensure that the total debits equal the total credits, which is the fundamental principle of double-entry accounting.

The Proof That the Debits and Credits in the Ledger