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A trial balance is a statement that lists the ___ balances of all ledger accounts on a particular date:
Adebit and credit
Bonly credit
Conly cash
Donly debit
Answer & Solution
Correct answer: A. debit and credit
A trial balance lists the debit and credit balances of all ledger accounts on a date.
Related questions
If the trial balance does not tally, the difference is temporarily placed in the:The process of correcting accounting errors in the books is called:Liabilities, capital and incomes normally appear in the trial balance as ___ balances:Assets and expenses normally appear in the trial balance as ___ balances:Errors that do not affect the agreement of the trial balance include:A temporary account opened to make a trial balance agree until errors are found is the:Two or more errors that cancel out each other's effect on the trial balance are called:Treating a capital expenditure as a revenue expenditure is an: