trial balance and balance sheet

trial balance and balance sheet

Question 1:

In this unit, you learned that the trial balance and balance sheet are not the same. How would you use each one if you owned a business?
Your journal entry must be at least 200 words. No references or citations are necessary.

Question 2:

Imagine that you opened a restaurant. Based on what you have learned in this unit, would you prefer to keep your accounting records on the cash basis or the accrual basis? As part of your response, explain how and why you selected one basis over the other.
Your journal entry must be at least 200 words. No references or citations are necessary.