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Explain Trial Balance.
Trial Balance: After posting all journal entries in the ledger, a statement termed as trial balance is prepared to check the accuracy of postings in the ledger. This Balance checks the arithmetical correctness of the entries. This is simply a list of the accounts and their balances at any specified date. This is used to test the equality of balances since at any time the debits and credits must be equal in value. Besides checking the accuracy of postings in the ledger, the trial balance gives the material for formulating financial statements as Profit and Loss Account and also Balance Sheet.
What are the outputs of your work unit if you are a manager at a fast-food restaurant? What are the activities required to produce those outputs? What are the inputs?
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I feel like there is not enough information to even start. Can someone help explain what to do? Maybe if I can start, then I can do the rest on my own.
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