Q.Fill in the blank: Trial balance is necessary for ……. accounts.

A trial balance contains the balances of all ledger accounts — personal, real and nominal — to verify that total debits equal total credits.

A trial balance is a statement prepared with the debit and credit balances of all ledger accounts on a particular date. Its purposes are:

• To check the arithmetical accuracy of the ledger postings (total of debit balances = total of credit balances).
• To provide a basis for preparing the final accounts. …

A trial balance is a statement of the debit and credit balances of all ledger accounts prepared as on a particular date — option (a).

Key points:

• A trial balance is not an account; it is a statement that lists every ledger account's balance in a debit column or a credit column.
• It is prepared as on a specific date — typically the last day of the accounting period (e.g. as on 31st March 2022) — because it captures the balances standing in the ledger at that instant. …

Trial balance is a Statement, not an account or a book of original/subsidiary entry.

A trial balance is a statement (not an account, and not a book of original entry such as a journal or a subsidiary book like the cash book) that lists the debit and credit balances of every ledger account as on a particular date, in or …

A trial balance is necessary to check the arithmetical accuracy of all the ledger accounts together.

Since every transaction is recorded with at least one debit and one corresponding credit (the double-entry principle), the sum of all debit balances in the ledger must equal the sum of all credit balances if the books have been correctly maintained. A trial balance lists the balances of ALL the ledger accounts side by side pr …