Is it necessary that a trial balance be taken periodically? What purpose does it serve?
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Is it necessary that a trial balance be taken periodically? What purpose does it serve?
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Although it is not absolutely necessary that a trial balance be taken periodically it is ...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Question Posted:
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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