Multiple choice

Which of the following is not an objective of preparing the Trial Balance?

  1. To ascertain arithmetical accuracy

  2. To help in preparation of final accounts

  3. Summary of each account

  4. To ascertain the financial position of the business
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

 It is not the objective of preparing the Trial Balance, as the assets and liabilities are shown in the balance sheet. Hence, the financial position is ascertained by the balance sheet.

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