Accounting · Trial Balance
Which one of the following statements regarding a trial balance is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A trial balance can only be extracted at the end of a reporting period
- 2A trial balance does not prove that all transactions have been recorded✓
- 3A trial balance proves the arithmetic accuracy of the ledger account
- 4Financial statements can be prepared directly from a trial balance
Correct answer
A trial balance does not prove that all transactions have been recorded
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