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Which of the following is NOT a component of a trial balance?

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Question: Which of the following is NOT a component of a trial balance?

Options:

  1. Assets
  2. Liabilities
  3. Equity
  4. Revenue

Correct Answer: Revenue

Solution: 

A trial balance includes assets, liabilities, and equity, but does not include revenue as a separate component.

Which of the following is NOT a component of a trial balance?

Practice Questions

Q1
Which of the following is NOT a component of a trial balance?
  1. Assets
  2. Liabilities
  3. Equity
  4. Revenue

Questions & Step-by-Step Solutions

Which of the following is NOT a component of a trial balance?
  • Step 1: Understand what a trial balance is. A trial balance is a list of all the accounts in a company's accounting system and their balances.
  • Step 2: Identify the main components of a trial balance. These include assets, liabilities, and equity.
  • Step 3: Recognize that revenue is not listed as a separate component in a trial balance.
  • Step 4: Conclude that the answer to the question is revenue, as it is NOT a component of a trial balance.
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