which of the following is true about a trial balance? multiple choice total debit amounts should always…
which of the following is true about a trial balance? multiple choice total debit amounts should always equal total credit amounts. only balance sheet accounts are shown. only income statement accounts are shown. the trial balance shows the change in all account balances over the accounting period.
Answer
Brief Explanations:
A trial - balance is a list of all the general ledger accounts showing their debit or credit balances. The fundamental principle is that total debit amounts must equal total credit amounts as per double - entry bookkeeping. It includes both balance sheet and income statement accounts and shows the ending balances of accounts, not the change over the accounting period.
Answer:
Total debit amounts should always equal total credit amounts.