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What is the trial balance
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Answer Posted / ch usha rani
Trial Balance is a statement which shows all closing debit &
credit balances and also shows the Balance Sheet items,
Profit & Loss Account items. The items shown under Trial
Balance are used only once while preparing Balance Sheet.
The adjustments given under the Trial Balance are used twice
while preparing Balance Sheet. Trial Balance is the basis
for preparing Balance sheet as well as Profit & Loss A/C.
| Is This Answer Correct ? | 25 Yes | 1 No |
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