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27.11.2020 •
Business
When should the trial balance totals differ?
A. Only when it is drawn up by the accountant
B. When drawn up before the profit and loss account is prepared
C. If drawn up halfway through the financial year
D. Never
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Ответ:
C. If drawn up halfway through the financial year
Explanation:
A business prepares a trial balance to check on the accuracy of the double-entry system. The trial balance detects any mathematical errors that may have occurred during recording or posting information in various accounts.
A trial balance lists all the accounts as obtained from a firm's general ledger. It sums up the closing balances of all debits on one column and credits on the other. If the debits and credits balance, the firm's ledger book is presumed not to have mathematical errors.
The preparation of a trial balance is at the end of a financial period, before the main financial statements. It uses the closing balances of the ledger accounts. If some accounts are not closed, then a trial balance will not balance.
Ответ:
macroeconomic
relating to the branch of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
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