How does the trial balance help ensure the accu... - SS1 Accounting Uses of Trial Balance Question
How does the trial balance help ensure the accuracy of financial statements?
The trial balance ensures the accuracy of financial statements by verifying that the total debits in the accounting records equal the total credits. If the debits do not equal the credits, there must be an error somewhere in the records. By identifying the error, accountants can correct it and ensure that the financial statements accurately reflect the company's financial position.
Please share this, thanks:
Add your answer
No responses