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What is the typical frequency of preparing a trial balance?

Practice Questions

Q1
What is the typical frequency of preparing a trial balance?
  1. Daily
  2. Weekly
  3. Monthly
  4. Annually

Questions & Step-by-Step Solutions

What is the typical frequency of preparing a trial balance?
  • Step 1: Understand what a trial balance is. It is a report that lists the balances of all accounts in the accounting system.
  • Step 2: Know the purpose of preparing a trial balance. It helps to check if the total debits equal the total credits in the accounts.
  • Step 3: Learn how often a trial balance is prepared. It is usually done every month.
  • Step 4: Recognize that preparing it monthly helps keep the accounts accurate and up to date.
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