A. It indicates profit
B. It indicates liabilities
C. It indicates the balances of accounts
D. None of these

Brief facts about this MCQs:

The true statement about trial balance is that it indicates or calculate the true balances of the accounts. Moreover, a trial balance is a complete and comprehensive list of all the general ledger accounts contained in the ledger of a business. Further, this list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance.
Also Read: MCQs on financial accounting