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What is the purpose of taking off a trial balance

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Reference no: EM132832544

Problem 1: Which of the following is not a date for the heading of an Income Statement?

a) for the month ending December 31st 2015.

b) for the year ending December 31st 2015.

c) on December 31st 2015.

d) for the period ending March 31st 2015.

Problem 2: What is the purpose of taking off a trial balance?

a) It is a means of listing the accounts with the largest balances.

b) It is done when there is no time for an Actual Balance Sheet

c) It shows the accountant where a mistake has been made in the accounting process.

d) It is a way to check the accuracy of a ledger.

Reference no: EM132832544

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