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Description: Which of the following checks the arithmetical accuracy of accounts?O a. Balance sheetO b. JournalO c. Trial balanceO d. Ledger

Business

Accounting

Which of the following checks the arithmetical accuracy of accounts? O a. Balance sheet O b. Journal O c. Trial balance O d. Ledger

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 3DQ

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Which of the following checks the arithmetical accuracy of accounts?
O a. Balance sheet
O b. Journal
O c. Trial balance
O d. Ledger

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