What is always true about trial balance reports? (You may select more than one a

Question

What is always true about trial balance reports? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) All accounts with balonces are included in the report Only accounts with activity during the period are included on the report The report is prepared for a ronge of dates 7 The total of the debit column must equal the total of the credit column

Explanation / Answer

Answer is :-

Total of Debit column must be equal to total of Cedit Column

Beacuse every transation has two effects one debit and one credit . so total of all balances are refected in the trial balances so the total of both side must be equal

for eg :- if cash recevied from ram rs 10,000

entry will be

çash a/c debit 10,000( cash comes in)

Ram a/c credit 10,000( ram is benfit giver )

So here both side are effected , thus due to this trial balance total should be equal.

All accounts with balances are inculded in it.

All accounts closing balances are inculded in the trial balances , because trial blance gives the summary of all accounts.

Only the accounts with activity are inculded in report

because the trial have the accounts who's transation has been there in the book of accounts .so book of accounts have a transaction which has occured thus by this trail balance shows the activity base accounts.

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