Question

What are objects of a trial balance?

Answer 1

The objects of a trial balance are as follows:

1. To ensure there are no arithmetical errors in the ledger accounts.
2. To obtain a summary of all ledger accounts.
3. To facilitate the preparation of final accounts.
4. To provide useful information to management to judge the business trend.

Thus, a trial balance helps check the arithmetical accuracy of accounts and aids in summarising and preparing financial statements, though it does not guarantee complete accuracy of accounts.