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Trial balance


A list of all balances contained in the ledger (or ledgers, including the cash book). It is a two-column list, debit balances and credit balances being listed separately. The purpose is to check that the totals of each column agree and therefore show that the rules of double-entry book-keeping have been observed. It does not indicate any error arising from a total omission or an incorrect amount recorded correctly.

Reference: The Penguin Business Dictionary, 3rd edt.