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Recording of Transactions - 1 — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountRecording of Transactions - 13 Marks
Question
What is a Trial Balance?
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Answer

After posting the transactions in the accounts and balancing them, a statement is prepared to show separately the debit and credit balances. Such a statement is known as Trial Balance. The total of the debit side of Trial Balance should be equal to that of its credit side. This is based on the Dual Aspect Concept which states for every debit there is a corresponding credit of equal amount.

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