Explain two features of trial balance.

1.	Explain two features of trial balance.
Answer» Following are two features of trial balance : 1. It is a statement: The trial balance is a statement or list, not an account. 2. Specific period: Trial balance has a specified time period. Generally trial balance is prepared at the end of an accounting period. For the period of 1 year means for 12 months. Trial balance for the period of less than 12 months can also be prepared.

Answer»

Following are two features of trial balance :

1. It is a statement: The trial balance is a statement or list, not an account.

2. Specific period: Trial balance has a specified time period. Generally trial balance is prepared at the end of an accounting period. For the period of 1 year means for 12 months. Trial balance for the period of less than 12 months can also be prepared.

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Explain two features of trial balance.

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