The trial balance is . . . . . . . .
A. is a formal financial statement
B. is used to prove that there are no errors in the journal or ledger
C. provides a listing of every account in the chart of accounts
D. provides a listing of the balance of each account in active use
Answer: Option D
Related Questions on Miscellaneous in Commerce
A. Expenditure for the business
B. Cost for the business
C. Gain for the business
D. None of the above
Which of these items would be accounted for as an expense?
A. Repayment of bank loan
B. Dividend to stock holders
C. The purchase of land
D. Payment of current period rent
Debit the receiver credit the giver rule for:
A. Real a/c
B. Personal a/c
C. Nominal a/c
D. None of these
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