Purpose of a Trial Balance?


The purpose of a trial balance is to check the mathematical/arithmetic accuracy of accounting. It is arrived at after balancing all the ledger accounts at a particular instance and then preparing a statement of balances. Debit amount, credit amount, particulars and ledger folio are some of the details incorporated in the common format of a trial balance.
1 Additional Answer
A trial balance is a ledger account statement that balances with a Ledger, at a specific instance. The main and only purpose of a trial balance is to check the arithmetical accuracy of accounting.
Explore this Topic
Listing of account and their balances are called trial balance. Its advantages are:1. Revmove the percentage of accidental looses2. Automatically corrects the ...
The Nuremberg Trials were military tribunals that prosecuted prominent leaders of Nazi Germany for war crimes. The Allied countries held these trials with representation ...
The basic purpose of the checks and balances system is to keep one branch or entity from holding too much decision making power. Each branch checks the other in ...
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014 Ask.com