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A trial balance is a list of all ledger accounts and their balances at a specific point in time. It is used to verify that
A trial balance is a list of all ledger accounts and their balances at a specific point in time. It is used to verify that total debits equal total credits, ensuring the accuracy of the recorded transactions. If the trial balance does not balance, it indicates errors that need to be investigated and corrected. It is a crucial step in the accounting cycle before preparing financial statements.
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