Interested to Buy Any Domain ? << Click Here >> for more details...
What is Trial Balance?
- 73 Answers
- 139311 Views
- Deloitte, Eye Ads, IPCA, Prajay Chemicals and Engineerings, Siva Shakthi, Sundaram Infotech Solutions, Tata Motors, I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
What Different Types Of Bankruptcy Should I Consider?
How many type of deposits does indian banking deal with?
What does ICFAI stands for?
What do you know about International Monetary Fund?
why n how the gold is inversely proportional to rupee value? thnx....
What are public deposits? Why do companies find public deposits attractive?
Which banks give preference to nbet candidates?
What is your perception of Development Officer as a Career?
What according to you should the government do to eradicate poverty?
Explain the role of chief actuaries?
Who is the investment banker?
How Bank Earns Profit?
Share your views on Small and Medium Enterprises?
What do you mean by private equity transaction?
What is fixed assets/ capital employed ratio?
