A trial balance is an accounting measure to test the application of the double entry principle.
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A trial balance is an accounting measure to test the application of the double entry principle.
The________ trial balance tests the double entry principle after adjustments were made. This trial balance is normally prepared at year-end.
The________ trial balance tests the double entry principle after transactions are posted from the journals to the general ledger.
Explain the concept of ‘double entry’ with reference to the accounting equation.
Why is ‘double-entry’ accounting important to follow? Think about what you have learned so far in this unit.