Question

Which of the following statements is true of a trial​ balance?A.A trial balance has the same format as a balance sheet.B.A trial balance presents data in debit and credit format.C.A trial balance is prepared after the balance sheet.D.A trial balance shows the total amounts of assets and​ liabilities, but not equity

Answer 1

Answer:

A trial balance presents data in debit and credit format.

Explanation:

There are two sections in the trial balance, called columns of debits and columns of credits. The total columns of debit and credit should always correlate or matched. The debit columns report assets and expenditures side while revenues stockholder equity, and the liability side are reported in the credit column.