Question: Which statement is correct? 1. A trial balance is required by international Accounting Standards IFRSs. 2. A trial balance can be used to exchange balancing

Which statement is correct?

1. A trial balance is required by international Accounting Standards IFRSs.

2. A trial balance can be used to exchange balancing figures between group members before financial statements are prepared.

3. A trial balance discloses the profit as difference between debit and credit entry totals.

4. The adjusted trial balance discloses the same figures than the statement of profit or loss and other comprehensive income.

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