Saved Bookmarks
| 1. |
What are the objectives of preparing trial balance (any two)? |
|
Answer» 1. Test of arithmetical accuracy: Trial balance is the means by which the arithmetical accuracy of the book-keeping work is checked. 2. Basis for preparing final accounts: Financial statements, namely, trading and profit and loss account and balance sheet are prepared on the basis of summary of ledger balances obtained from the trial balance. |
|