Which of the following is NOT a reason for preparing a trial balance?
Practice Questions
1 question
Q1
Which of the following is NOT a reason for preparing a trial balance?
To detect errors
To prepare for audits
To calculate tax liabilities
To assist in preparing financial statements
Calculating tax liabilities is not a reason for preparing a trial balance; it is primarily used to detect errors and assist in preparing financial statements.
Questions & Step-by-step Solutions
1 item
Q
Q: Which of the following is NOT a reason for preparing a trial balance?
Solution: Calculating tax liabilities is not a reason for preparing a trial balance; it is primarily used to detect errors and assist in preparing financial statements.
