Question

the trial balance helps in _______. i. the preparation of the income statement ii. the preparation of the statement of accounts i only ii only i and ii only

Explanation:

The trial balance lists all the general - ledger accounts with their debit or credit balances. It provides the data needed for preparing the income statement (which shows revenues and expenses) and the statement of accounts (a more general term for financial statements). It helps in aggregating the account balances for these statements.

Answer:

I and II only