A trial balance is prepared to
...A trial balance is prepared to
Detect fraud
Ascertain losses in a trading period
Determine opening capital
Test arithmetical accuracy of ledger entries
Correct answer is D
Preparing a trial balance for a company serves to detect any mathematical errors that have occurred in the double-entry accounting system. If the total debits equal the total credits, the trial balance is considered to be balanced, and there should be no mathematical errors in the ledgers.
The apportionment of the cost of a fixed asset to the profit and loss account is termed? ...
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