Which of the following describes a trial balance?
-
A.
It is a special account -
B.
It is a list of balances in the books -
C.
It reveals the financial position of a business -
D.
It shows all the entries in the books of a business
Correct Answer: Option B
Explanation
A trial balance is a bookkeeping or accounting report that lists the balances in each of an organization’s general ledger accounts.