Question: Differentiate between trial balance and balance sheet. In your response, mention the purpose of a trial balance and the purpose of a balance sheet. Differentiate

Differentiate between trial balance and balance sheet. In your response, mention the purpose of a trial balance and the purpose of a balance sheet. Differentiate between cash flow and income statement. In your response, mention the purpose of each statement and give examples of information that an investor can derive from each of them. Explain accrual accounting. Give examples of accruals and explain why accruals are needed. Discuss the impact of accruals on the cash flow statement, the profit and loss statement, and the balance sheet.

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