Which of the following is not true of a trial balance?
A.
list taken of the account balance in the general ledger
B.
proof of the arithmetical accuracy of the ledger postings
C.
list of account abstracted from a subsidiary ledger to check their agreement with the related control account
D.
summary of data for the preparation of financial statement
Correct Answer: Option C
Explanation
A trial balance is an internal report used within the accounting department. It lists all debit and credit balances from the ledger for a period to check that total debits equal total credits.
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