Which of the following statements is correct about Trial Balance?

A. The Trial Balance shows only nominal account balances

B. The Trial Balance has no statutory importance from the point of view of law

C. The Trial Balance shows only balances of Assets and Liabilities

D. The Trial Balance is prepared after preparing the Profit and Loss Account

Found an error? Read our corrections policy and report it in the comments below.

Be the first to comment if anything wrong with this mcq
Your comment successfully submitted!
It will automatically posted after review and approval by our staff member.