1. Write in brief about trial balance.
Ans:-Trial balance is a statement of debit and credit totals or balances of the ledgers account, which is prepared to check the arithmetical accuracy of the recorded transactions. It helps to check arithmetical accuracy of recording and posting the transactions
2. State any two objectives of trial balance.
Ans:-The following two objectives of trial balance:
a. To check arithmetical accuracy of books of account.
b. To locate the accounting errors and rectify them.
c. To provide summary of ledger
d. To help in preparation of final accounts.
3. Write the importance or advantages of trial balance.
Ans:-The importance of trial balance are as following:
a. Trial balance helps to check the arithmetical accuracy of books of account.
b. It helps to locate the accounting errors and rectify them.
c. It facilitates the preparation of final account.