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WAEC Financial Accounting 2005 Question 6

Question 6

Trial Balance

A trial balance is a list of

  1. A.current assets
  2. B.current liabilities
  3. C.debit and credit balances
  4. D.debtors and creditors.
Show the answer and explanation

Answer: C (debit and credit balances)

Explanation

It lists all debit and credit balances in the ledger.