Is trial balance an account or a statement ?

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Solution

Trial balance is a statement, showing the names and balances of all the accounts in the ledger and cash book.

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Q. Trial balance is an account.

Q. A Trial balance is an Account.

Q. Mistake in transferring the balance of an account to the trial balance or omitting to write ,the balance of an account in the trial balance is ________.

Q. Missing to transfer the balance of an account to the trial balance or omitting to write the balance of an account in the trial balance is __________.

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.

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