Explain the difference between Trial Balance and Balance Sheet.

A Trial Balance and a Balance Sheet are two crucial financial statements in accounting, but they serve different purposes and provide different insights into a company's financial health. Understanding their differences is essential in financial management, particularly in power distribution, where efficient financial control and resource management play a significant role.

Definition and Purpose

1. Trial Balance: A trial balance is an internal financial report that lists all the ledger accounts and their balances at a specific point in time. It is primarily used to check the mathematical accuracy of bookkeeping entries and ensure that total debits equal total credits.

2. Balance Sheet: A balance sheet is a formal financial statement that provides a snapshot of a ____ _____ ____ _____ ______ ______ _______ __________ __________.
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