Which of the following is true about a trial balance?
AIt lists down the balances of a balance sheet
BIt lists down the balances of accounts
CIt is not a part of accounting cycle
DIt is a kind of financial statement
Correct answer
B. It lists down the balances of accounts
Explanation
It lists down the balances of accounts is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.