SSC MCQ Question Ans. Trial Balance. Prior to the preparation of the financial statement to know the results of financial activities of a business concern at the end of the year, it is badly needed to ensure that all the transactions of that period have been recorded and posted correctly in the books of accounts of the organization. If the books of accounts are prepared without proving the arithmetical accuracy then the prepared statement may not convey true information of the organization. A trial balance is prepared with the balances of ledger books with due and careful consideration of all possible errors of the recording process in books of accounts.
SSC MCQ Question Ans. Trial Balance
If the posting has been done accurately and the computation of account balances has been corrected, the total of all debts should be equal to the total of credits. In order to prove the accuracy that the total of accounts with debit balances agree with the total of credit balances, a statement i.e. trial balance is prepared. Errors can easily be identified and necessary steps for rectifying them can easily be taken through the preparation of trial balance.
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