Trial Balance Purpose Quiz
Three easy multiple-choice questions on why trial balances are used and what they reveal in accounting.
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Quiz Questions & Answers
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Question 1: What is the primary purpose of preparing a trial balance?
To check that total debits equal total credits in the ledger
To calculate net profit for the period
To file tax returns with the authorities
Question 2: Which of the following is true about a trial balance?
It is a financial statement
It is a list of all ledger balances
It records only cash transactions
Question 3: Which limitation of a trial balance is important to remember?
It replaces the need for reconciliations
It reveals fraud in every case
It cannot detect errors of omission or equal-but-wrong entries