Which of the following statements is correct about Trial Balance?

A: The Trial Balance is prepared after preparing the Profit and Loss Account

B: The Trial Balance shows only balances of Assets and Liabilities

C: The Trial Balance shows only nominal account balances

D: The Trial Balance has no statutory importance from the point of view of law

Check Correct Option

The Trial Balance has no statutory importance from the point of view of law

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Which of the following statements is correct about Trial Balance?

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