Question

distinguish between a balance sheet and trial balance any five points​

Answer 1

The main difference between the trial balance and a balance sheet is that the trial balance lists the ending balance for every account, while the balance sheet may aggregate many ending account balances.

Answer 2

Trial Balance does not include closing stock while the Balance Sheet does not include opening stock. Trial Balance is prepared after posting into ledger whereas Balance Sheet is prepared after the preparation of Trading and Profit & Loss Account.

Explanation:

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