PRC-1 · Chapter 3 · Question 8 of 100
What is the primary function of extracting a Trial Balance at the end of an accounting period?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) To act as an internal check on the mathematical accuracy of double-entry bookkeeping.
Explanation
A trial balance is a memorandum listing of all account balances used as an internal check on the mathematical accuracy of double-entry bookkeeping. It ensures that total debits equal total credits.
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