Asked by
Rachelle Dulos
on Oct 16, 2024
Verified
A list of all ledger accounts and their balances at a point in time is called a(n) :
A) Account balance.
B) Trial balance.
C) Ledger.
D) Chart of accounts.
E) General Journal.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the accounts.
Ledger
A comprehensive collection of all accounts and transactions of a company or individual, recorded in a systematic manner.
Account Balance
The amount of money in a financial repository at any given moment, which can fluctuate with deposits, withdrawals, and interest payments.
- Understand the purpose and structure of a trial balance and its role in the accounting process.
Verified Answer
DY
Learning Objectives
- Understand the purpose and structure of a trial balance and its role in the accounting process.