What is Trial Balance? (Answer in one sentence)
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Trial Balance is a list of closing balances of ledger accounts.
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Answer:
The record in which all the ledgers are compiles.
Explanation:
Trial balance is a report or a list which combines all the ledger, debit plus credit. This is generally prepared by the company at the end of every reporting period.
The main reason behind maintaining a trial balance is to keep a check over the company's bookkeeping system and to ensure that it is mathematically correct.
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