Accounting · Trial Balance
What is the primary purpose of preparing a trial balance?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To replace the balance sheet in financial reporting
- 2To list all the assets and liabilities of the business
- 3To check the arithmetical accuracy of the ledger accounts by verifying the equality of total debits and credits✓
- 4To calculate the net profit or loss of a business
Correct answer
To check the arithmetical accuracy of the ledger accounts by verifying the equality of total debits and credits
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