Question

When the total of debits and credits are equal it represents?

Answer 1

hey mate,

the answer is nil balance

hopes this helps

Answer 2

When the total of debits and credits are equal it represents nil balance.

A double-entry accounting system's mathematical errors can be found by creating a trial balance for a business. The trial balance is deemed to be balanced and there shouldn't be any arithmetic errors in the ledgers if the total debits and total credits are equal. This does not, however, imply that an organization's accounting system is error-free. For instance, the trial balance technique would not catch substantial accounting problems if transactions were incorrectly categorised or just absent from the system.

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