Examveda
Examveda

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.

Join The Discussion

Related Questions on Accounting