Which Book Is Known As Total of Debit And Credit

In This Post, We Will Try To Understand The Answer To The Question (MCQ), "Which Book Is Called As Total of Debit And Credit In Accounting"?

Trial Balance is called total of debit and credit. As it is prepared to show arithmetical accuracy of Books of Accounts upto an extent.

A trial balance contains classified balances of assets, liabilities, equity, revenues and expenses transferred from Ledger’s Accounts of business.

The total of debit side in trial balance must be equal to the total of credit side, otherwise, there are errors, mistakes or frauds due to which trial balance is disagreed.

However, there are also possibilities that the totals of both debit and credit in trial balance are equal but still there are certain secret types of error, mistakes or frauds which are not shown in a trial balance such as a transaction is completely omitted from the records does not affect neither debit side nor credit side of trial balance and trial balance is agreed.