Day: August 25, 2020

What is a trial balance?

Select ONE answer:

1. a list of balances in a business’s books on a certain date
2. a list of the assets, liabilities and capital of a business on a certain date
3. a summary of all a business’s transactions for the year
4. a summary of the financial position of a business at the year end

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct
2. Not correct
3. Not correct
4. Not correct

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