A trial balance is a listing of all the accounts with balances, including assets, liabilities, and owner's equity accounts. It is used to ensure that the total debits and credits in the accounting system are equal, which is a key part of the double-entry bookkeeping system. None of the other choices accurately describe a trial balance.

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A Trial Balance Is

Question 7

Multiple Choice

A trial balance is

A) a listing of all the assets, liabilities, and owner's equity accounts that have balances.
B) a listing of all the accounts that have zero balances.
C) a listing of all the revenue and expense accounts that have balances.
D) all of these.
E) none of these.

Correct Answer: