Q
Which of the following statements is correct about Trial Balance?
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A
A. The trial balance is prepared after preparing the profit and loss account
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B
B. The trial balance shows only balances of assets and liabilities
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C
C. The trial balance shows only nominal account balances
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D
D. The trial balance has no statutory importance from the point of view of law
Correct Answer:
D. D. The trial balance has no statutory importance from the point of view of law
