Balance sheet and a trial balance
Write down the dissimilarity between a balance sheet and a trial balance?
Expert
- Trial balance is a catalog of balances from the ledger account whereas balance sheet is a statement of liabilities and assets.
- Trial balance consists of balances of all personal, nominal and real accounts, whereas balance sheet consists of balances of only those real and personal accounts that represent liabilities and assets.
- Trial balance is made before preparation of trading and loss and profit account, whereas balance sheet is made subsequent to the preparation of trading and loss and profit account.
- Trial balance is made to make sure the arithmetical accuracy of posting in ledger whereas balance sheet is made to point out the financial position of the business on a specific date.
- Debit & credit balances are shown side-by-side whereas balance sheet is made on a ‘T’ form basis, the left hand side showing liabilities whereas right hand side showing assets.
- Closing stock does not show in the trial balance whereas it is shown on the assets side of balance sheet.
Describe in brief who can advertise on any site?
List out the two ways in which the problems might be inadequately defined.
What do you understand by the term Planning Premises?
Illustrates the types of Differentiation Themes?
Write down the main objective of employee performance rating system?
Explain the Key Concept of the strategic matters and problems merit front-burner managerial attention.
Give a brief introduction about the following term Attraction, Adventure tourism, Amenities, Back of the house?
What do you mean by the term Self–Theories for personality development?
Describe the Abraham Maslow’s hierarchy of needs in brief?
Explain the opportunities of a company for competitive benefit.
18,76,764
1948396 Asked
3,689
Active Tutors
1415594
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!