Trial Balance

Subject: Accountancy

Overview

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Things to remember
  • A trial balance is a list of debit and credit balances of all the ledger accounts extracted on a given date.
  • The trial balance checks the arithmetical accuracy of the books of accounts. 
  • The trial balance helps in comparing the balances of assets, liabilities, capital, incomes, and expenses between two different periods.
  • The trial balance helps to locate the accounting errors at an early stage.

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