An informal accounting statement that lists the ledger account balances at a point of time and compares the total of debit balances with the total of credit balances is known as
A. Income statement
B. Balance sheet
C. Trial balance
D. Cash Book
Answer: Option C
Solution(By Examveda Team)
An informal accounting statement that lists the ledger account balances at a point of time and compares the total of debit balances with the total of credit balances is known as Trial balance. A trial balance is a bookkeeping worksheet in which the balance of all ledgers are compiled into debit and credit account column totals that are equal.Related Questions on Accounting
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A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
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A. Current assets
B. Fixed assets
C. Intangible assets
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A. Current assets
B. Fixed assets
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B. Fixed assets
C. Intangible assets
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