Question

2) Preparation of Trial Balance is not possible under sing,
Entry System write a true or false with reason​

Answer 1

Question: Preparation of Trial Balance is not possible under Single Entry System. Write true or false with reason.

Answer : True.

Under Single Entry System, Preparation of Trial Balance isn't possible. It is due to the incomplete information of accounting.

Trial Balance is prepared to verify the arithmetical accuracy of Books of Accountancy. It is not possible to ascertain the same, under Single Entry System.

A Trial balance is a list of all ledger accounts, showing its debit and credit balances as on specific dates. It is prepared at the end of financial year.

Trial Balance :

• shows balances of different Ledger accounts.

• proves arithmetical accuracy of Books of Accountancy

• helps to prepare Final accounts.