The trial balance is based on the double-entry principle that for every debit there is an equal amount of corresponding credit.

Question

The trial balance is based on the double-entry principle that for every debit there is an equal amount of corresponding credit.

State whether the following statements are ‘True or False’ with reasons:

Monjur Alahi

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2025-01-04 04:42

1 Answers

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Salim Ahmed Kawsar · Accepted Answer · 2023-02-05T15:29:48+06:00

Salim Ahmed Kawsar

This statement is True.

Trial balance is an extract of ledger balances. Ledger is prepared of journal book which follows the Double Entry System of bookkeeping. When both the effects of debit and credit with equal amount is given. The trial balance will be tally.

4 views Answered 2023-02-05 15:29