Question

Explain the meaning and objective of trial balance.​

Answer 1

Answer:

To provides summary information of all the ledger account in one place.it present of balance of all assets liablities capital, incomes and expences related to particular date

Answer 2

Answer

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Trial statement containing debit and credit balance from the ledger. It is prepared to ascertain the arithmetical accuracy of accounts on a certain date.

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Objective of Trial Balance :-

To present summary of ledger :- The trial balance serves as a summary of what it is contained in the ledger. The ledger may have Tu Meri photo only when much detail is required for an account.

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To help Auditors :- Trial balance enables the auditor to see whether any corrections were made after the accounts were checked. It includes ledger balance on a particular date.

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