Final answer:
A trial balance is a summary of financial data in ledgers that ensures the figures are correct and balanced.
Step-by-step explanation:
A trial balance is a summary of all financial data in ledgers which ensures the figures are correct and balanced. This means that the total debits must equal the total credits in the trial balance. If there is any discrepancy between the debits and credits, it indicates an error in the recording or posting of transactions.
For example, if the trial balance shows a total debit of $10,000 and a total credit of $9,800, it means there is a $200 debit balance that needs to be resolved.
In summary, a trial balance helps verify the accuracy of financial information by ensuring that all debits equal all credits in ledgers.