One of your friends, who is a small business owner, knows you are taking introductory accounting and
Question:
One of your friends, who is a small business owner, knows you are taking introductory accounting and asked you the following question:
“If my trial balance is in balance, can I conclude that my accounting is correct? If not, what can I conclude?”
Required
Prepare your response.
Step by Step Answer:
If your trial balance is in balance you may not conclude that your accounting is correct you can con...View the full answer
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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