A Trial balance may be prepared on any day, date.

True

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False

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Solution

The correct option is A True
Trial balance is a statement showing all the ledger balances are properly balanced. Usually trial balance lists year ending balances in each of the ledger accounts but it can also be prepared on any other day or date in order to ensure the arithmetic accuracy on that particular day or date.

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Similar questions

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Q. Answer in only one sentence :

On which date is a Trial Balance prepared?

Q. Answer the following question in one sentence each:
On which date is a trial balance prepared?

Q. Why is Trial Balance prepared?

Q. Objective type questions.
Answer in one sentence only.

Can a trial balance be prepared under Single Entry System?

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