CBSE Class 11-commerce Answered
Difference between trial balance and balance sheet?
Asked by Kukumalik2002 | 20 Feb, 2019, 06:29: AM
Expert Answer
The difference between Trial Balance and Balance Sheet lies in the rationale behind preparation of these statements. Trial Balance is prepared to check the arithmetic accuracy of books of accounts. Balance Sheet is prepared to disclose the financial position of the business. Trial balance is prepared with the help of all the ledger account balances whereas Balance Sheet uses the balances of Assets and Liabilities accounts, inluding Capital Account. Trial Balance has no proper format in which the elements or the items are to be recorded whereas Balance Sheet may be prepared as per specific arranagement order. Also, this is requried to be submitted to the registrar of the companies if the business entity is a company wheras Trial Balance need not be submitted to the registrar.
Answered by | 20 Feb, 2019, 09:16: AM
CBSE 11-commerce - Accountancy
Asked by pradyumnaagrawal2957 | 10 Jun, 2021, 10:59: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by kumarimanisha.9767 | 21 Jul, 2020, 10:32: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by tussharpoddar7 | 08 Jul, 2020, 11:30: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by lovermahakal942004 | 08 Jul, 2020, 01:51: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by tyagiji2511 | 24 Jun, 2020, 10:45: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by pdas93679 | 23 Jun, 2020, 08:22: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by agrawalgaurav441 | 12 Jun, 2020, 01:55: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by boparaijaideep23 | 05 Jun, 2020, 11:07: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by Lashmibasra | 18 May, 2020, 04:10: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by himanshu2002tejas | 16 Apr, 2020, 11:16: PM
ANSWERED BY EXPERT