The Purpose of a Trial Balance Is to Prove That

question 35

True/False

The purpose of a trial balance is to prove that the totals of the debit and credit balances in the ledger accounts
are equal.

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Definitions:

Faulty Goods

Products that are defective, damaged, or not functioning as intended when sold.

Payments

The act of transferring money or consideration from one party to another in exchange for goods, services, or to settle a debt.

Business Practices

Established methods or manners of operating within a business or industry.

Credit-Worthiness

An assessment of an individual's or entity's ability to repay borrowed money, often based on their financial history and current resources.