dentify the statement below that is true. Multiple Choice A trial balance can replace the need for financial statements. If the debit and credit columns of a trial balance are equal, one can be assured that there were no recording errors during the period. Another name for the trial balance is the chart of accounts. The trial balance is a list of all ledger accounts and their balances at a point in time. The trial balance is another name for the balance sheet as long as debits balance with credits