Trial Balance is the base of Final account. (State True or False)
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TRUE. .
BCOZ FINAL ACCOUNT PREPARE ON THE BASIA OF TRIAL BALANCE
BCOZ FINAL ACCOUNT PREPARE ON THE BASIA OF TRIAL BALANCE
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Answer:
The given statement is true.
Explanation:
The reason being that these are usually prepared at the end of the financial year and therefore it forms the basis for preparing final accounts.
It contains a list of all ledger accounts and this helps in checking the arithmetical accuracy of the entries posted in Ledger accounts. Trial balance is regarded as balanced when the total of debit and credit columns are equal.
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