O-LevelAccountingVerification of accounting records7707/12 · May/June 2021 · Q91 Mark

Which statement is not true about a trial balance?

AIt is a list of ledger account balances at a certain date.

BIt can assist in finding arithmetical errors.

CIt is part of the double entry system.

DIt is useful in preparing financial statements.

✓ Correct answer

A: It is a list of ledger account balances at a certain date.

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Topic: Verification of accounting records, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2021 Paper 1 Variant 2, question 9.

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