Question 4
Trial BalanceWhich of the following is not a characteristic of a Trial Balance?
- A.It has columns for debit and credit balances
- B.Total of debit balance equals total of credit balance
- C.It is a statement
- D.It is an account
Show the answer and explanation
Answer: D (It is an account)
Explanation
A trial balance is a list (statement) of ledger balances drawn up to check arithmetic. It is not itself a ledger account.