What type of accounts does a trial balance include?

A trial balance includes both balance sheet accounts and income statement accounts. This financial statement serves to ensure that the total debits equal the total credits in the accounting system, which is essential for maintaining accuracy in the general ledger.

Balance sheet accounts, also known as permanent accounts, include assets, liabilities, and equity. These accounts reflect the financial position of the entity at a specific point in time. On the other hand, income statement accounts, also referred to as temporary accounts, include revenues and expenses, and they provide information about the company’s financial performance over a specific period.

Incorporating both types of accounts allows the trial balance to present a complete overview of the organization's financial position and results of operations, thereby assisting in the preparation of the financial statements. This ability to verify both sets of accounts is fundamental to ensuring that the accounting records are accurate and reliable.