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Question -

State the meaning of a Trial Balance.



Answer -

Trial Balance is a list of all general ledgers accounts present in the ledger of a business, the main purpose of its creation is to verify the arithmetical accuracy of the accounts. It is carefully prepared after balancing of all the accounts of ledger. Trial Balance consists of two columns, debit side consists of all the debit balances and credit side contains all the credit balances of the accounts.

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