If total debits equal total credits in the trial balance,then all balances are correct.A trial balance could contain offsetting errors where the balance of one account is misstated in one direction but the balance of another account (with the same type of debit or credit balance)is misstated in the other direction.

Question

Quizplus · Accepted Answer

A trial balance only checks if the total debits equal total credits, but it does not guarantee that all transactions have been recorded correctly or in the right accounts, allowing for the possibility of offsetting errors.

If Total Debits Equal Total Credits in the Trial Balance,then