Question 11 of 32
Q.What is trial balance ?
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2022Subjective· 2mImportance★★★★★
34% · 11/32 Questions
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Start your 14-day free trial to unlock the full solution →A trial balance is a statement showing the debit and credit balances of all ledger accounts as on a particular date, prepared to test the arithmetical accuracy of the ledger.
In the Tamil Nadu HSC Class-11 Accountancy syllabus, a trial balance is a statement prepared with the debit and credit balances (or totals) of all ledger accounts as on a specified date. Its key features and purpose:
- It has two amount columns — a debit column and a credit column.
- Under the double-entry system every debit has an equal credit, so if the books are arithmetically correct, the total of the debit column equals the total of the credit column. …
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