Question

Is it true that the trial balance totals should agree

Answer 1

Answer:

Yes, always.D.No, because it is not a balance sheet. Answer/Explanation: C – Debit and credit balance of balance trial should agree. If didn't agree there is error on the trial balance.

Answer 2

Yes, trial balance totals should be the same or agree.

Detailed answer

Trial balances are used by the company's to detect any irregularities or errors in the account statements.

• The total credit balance of the company should always be equal to the debit balance.
• If they are equal then it is considered a balanced sheet.
• They are usually calculated and created at the end of the financial year.
• assets, expenses, liabilities, and revenues are usually used to calculate it.