Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C10 Trial Balance2 Marks
Question
Explain two features of trial balance.
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Answer
Following are the characteristics or features of trial balance.
$(1)$ Trial balance is a statement, it is of an account.
$(2)$ Generally, trial balance is prepared at the end of the month.
$(3)$ Trial balance is a part of double entry accounting system.
$(4)$ Trial balance is prepared before preparing final accounts.
$(5)$ The trial balance is prepared in order to verify. Whether the accounts are arithmetically corrector not.
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