Difference between trial balance and balancesheet?

Question

Accepted Answer

Trial balance is a list of all general ledger accounts with their respective debit or credit balances, while balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

Trial balance is a working paper that helps in preparing financial statements, including the balance sheet.
Trial balance lists all accounts and their balances, while balance sheet summarizes the financial position of a company.
Trial balance is prepared before the balance sheet.
Balance sheet includes assets, liabilities, and shareholders' equity.
Trial balance ensures the accuracy of the accounting records, while balance sheet provides a snapshot of the company's financial health.

Accepted Answer

Trial balance is a rough work and balance sheet is a statement which is shiowing financial position

Difference between trial balance and balancesheet?

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