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Question
______ purpose is to show the financial position of the business while purpose of ______ is to establish the arithmetical accuracy of the books of accounts.
Options
Trading account, profit and loss account
Profit and loss account, trading account
Trial balance, balance sheet
Balance sheet, trial balance
MCQ
Fill in the Blanks
Solution
Balance sheet purpose is to show the financial position of the business while purpose of trial balance is to establish the arithmetical accuracy of the books of accounts.
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Differences Between Trial Balance and Balance Sheet
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