What is the primary purpose of a trialbalance?a) To prepare financial statementsb) To identify errors in the ledgeraccountsc) To calculate the company's tax liabilityd) To adjust for accrued and deferreditems

Explanation of Trial Balance:A trial balance is a statement that lists all the ledger account…

Answered: What is the primary purpose of a trial…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 12DQ: Describe the effect on the financial statements when an adjustment is prepared that records (a)...

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What is the primary purpose of a trial balance? a) To prepare financial statements b) To identify errors in the ledger accounts c) To calculate the company's tax liability d) To adjust for accrued and deferred items