A trial balance shows (i) Credit balances (ii) Debit balances
Both (i) and (ii)
The correct answer is option 4. A trial balance lists both credit and debit balances to ensure that the accounting equation is balanced. It includes both types of balances (credit and debit) and is used to verify the correctness of the entries.
Important Questions from Balance sheet statement
___________ is a record of assets and liabilities of any firm.
A businessman can find out what his business owns and what it owes from _______.
Which of the following options is an INCORRECT pair considering a firm's balance sheet?
Which of the following pairs is NOT correctly matched in the context of account balances shown in the Trial Balance?
Which of the following is (are) an example(s) of fictitious assets?
(i) Debit balance of Profit and Loss account
(ii) Goodwill
