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What is trial balance?

trail balance to prove the mathematical equality of debts. why is the meant of trial balance purpose of preparation of financial statements? Why the effect of all transaction will be reflected in the ledger accounts?

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  • 1 decade ago
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  • 1 decade ago

    It is a listing of all the accounts in your Chart of Accounts, to assure that there were no errors in posting. Your total Debit Accounts should equal all your credit Accounts. With computer General Ledger software it has become less important than it use to be when all the postings were done by hand

    Source(s): I'm a CPA
  • 1 decade ago

    we should suggest they set up a section just for home work questions!!!

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