Question: Question 6 State whether the following statements are TRUE or FALSE regarding the Trial Balance. If a statement is false, provide the correct statement: (5
Question 6 State whether the following statements are TRUE or FALSE regarding the Trial Balance. If a statement is false, provide the correct statement: (5 Marks) 6.1 A Trial Balance is a means of internal control of a business. 6.2 When the debit side of a Trial Balance and the credit side of a Trial Balance adds up to the same amount, it means that there are no mistakes in the books of a business. 6.3 A Trial Balance is a list of General Ledger balances. 6.4 A pre-adjustment Trial Balance can be drawn up at any month-end and must be drawn up at the end of the year before any adjustments (changes) have been made to the figures
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
