Trial Balance

Which of the following is the correct definition for Trial Balance?

• A proof of the equality of debits and credits in the general ledger.

• A proof to see if debits is more than credits in the general ledger

• A proof to see if credits is more than debits in the general ledger

• A proof of the equality of debits and credits in the general journal.

Where do you find the information for composing a Trial Balance?

• General Journal

• Source Documents

• General Ledger

• Memorandum

What order should you list the accounts on the Trial Balance?

• It does not matter the order

• Revenue, Expenses, Assets, Liabilities, Owner's Equity

• The same as the General Ledger

• The same as the Chart of Accounts

Which accounts should be listed?

• Only those with a debit balance

• Only those with a credit balance

• Every account that has a balance

• Every account

What are the three things needed to prepare the heading of the Trial Balance

• The name of the report

• The name of the business

• The name of the manager

• The date of the report

What should you do if the Trial Balance is not balanced?

• Go through and find your mistake

• It doesn't matter, so just move on

• Throw everything away and completely restart