What is Trial Balance?
- 73 Answers
- 121178 Views
- Deloitte, Eye Ads, IPCA, Prajay Chemicals and Engineerings, Siva Shakthi, Sundaram Infotech Solutions, Tata Motors, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / satheesh sivarajan
Trial balnce is a statement, which shows the debit & credit
balance of ledger accounts. The main intenton of a trial is
to check the arithematic accuracy of the accounts.
| Is This Answer Correct ? | 52 Yes | 13 No |
Answer / angel
The Trial balance is prepared in each financial period as a
summary of the closing of the previous ledger. The total of
the debit side should always be equal to the total of the
credit side, which proves the arithmetic accuracy of the
ledger entry. Often credits will be represented as a
negative leading the total of the trial balance to be 0. The
trial balance thus serves as a tool to detect errors, which
may have occurred during the double-entry system of the
ledger. However, a balanced trial balance does not
necessarily guarantee that there is no error.
| Is This Answer Correct ? | 41 Yes | 17 No |
Answer / ajay kumar singh
A trial balanceis a list of balances of allaccounts
recorded in the ledger and is prepared at the end of a
chosen period.
| Is This Answer Correct ? | 32 Yes | 15 No |
Answer / p_milind78
Trial balnce is a statement, which shows the debit & credit
balance of ledger accounts. On that basis financial
statements are prepared.
| Is This Answer Correct ? | 28 Yes | 11 No |
Answer / pravin s rawal
trial balance is a worksheet listing the balance of each
ledger in two coloum, namaly debit and credit. the trial
balace is prepared in each finicial period as a summery of
the closing of the period. ledger the total of debit side
should always he equal to the total of the credit side.
| Is This Answer Correct ? | 28 Yes | 11 No |
Answer / kiran
trial balance is nothing but debit balance is equal to
credit balance
| Is This Answer Correct ? | 31 Yes | 14 No |
Answer / eve
A trial blanace is a list of ledger account balances
prepared on a particular date.
| Is This Answer Correct ? | 37 Yes | 21 No |
Answer / mamta
Trial balance is the summarised form. It is the statement
which contain the various ledger balances on a perticular
date. In Trial Balance the Debit side & the Credit side
must be tally. If Isn't so then there is some arthmetically
mistake in your Account Book.
| Is This Answer Correct ? | 27 Yes | 12 No |
Answer / davinder
TRIAL BALANCE IS AN CLOSING BALANCE OF ALL LeDgER AcCoUnT's
| Is This Answer Correct ? | 25 Yes | 13 No |
Answer / chalapathi rao govada
It shows the ledger balances of all accounts maintained in
the organization for a financial period.
The main objective of preparing a trail balance is to test
the Arthemetical Accuracy of the all accounts maintained
within the organization.
| Is This Answer Correct ? | 25 Yes | 14 No |
What Are The Characteristics Of Government Securities Market?
What is a NBFC?
Who are our major competitors and what differences do you notice in our products?
what is shot selling
What are the indicators of inflation?
what is letter of credit
What are limited liability companies? What are its two types?
How will you differentiate between shares and debentures?
Define Beta.
Give one point of difference between commercial banks and private banks?
1) What is mean by debit, credit 2) what is mean by purchase, sales
What has happened in the markets in the past three months?
-
Business Administration (517) - Marketing Sales (1279)
- Banking Finance (3208)
- Human Resources (745)
- Personnel Management (68)
- Hotel Management (29)
- Industrial Management (113)
- Infrastructure Management (14)
- IT Management (97)
- Supply Chain Management (16)
- Operations Management (39)
- Funding (79)
- Insurance (494)
- Waste Management (1)
- Labor Management (48)
- Non Technical (73)
- Business Management AllOther (546)
