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What is the trial balance
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Answer Posted / ramesh
AFTER POSTING TO THE LEGER ACCOUNTS IT IS DESIRABLE TO KNOW
WHETHER ALL THE ENTRIES ARE CORRECTLY MADE OR NOT, SO WE
PREPARE A SEPERATE STAMENTS OF CREDIT & DEBIT TOTALS. THIS
STATEMENT IS KNOWN AS TRIAL BALANCE
Expenses and asset will show Dr balances and Liabilities
and income will show credit balances. in TB if it is shown
vice versa then we can catch error easily
| Is This Answer Correct ? | 6 Yes | 0 No |
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