Question

What is the purpose of a "trial balance"?

Select an answer:

1.to discover errors in bookkeeping


2.the summary of a journal


3.the summary of a ledger


4.to see if debits equal credits

Answer 1

Answer:

What Is a Trial Balance?

A trial balance is a bookkeeping worksheet in which the balance of all ledgers are compiled into debit and credit account column totals that are equal. A company prepares a trial balance periodically, usually at the end of every reporting period. The general purpose of producing a trial balance is to ensure the entries in a company's bookkeeping system are mathematically correct.