Question :
A) Ledger
B) Journal
C) Account
D) List
Answer : D
A trial balance is a ________
A) Ledger
B) Journal
C) Account
D) List
Answer : D
Description :
Trial balance is a list of ledger accounts balances, showing debit balances and credit balances, separately on a certain date. Trial balance is only a statement not an account. Every transaction has equal debit and credit aspects so that the trial balance possesses equal debit and credit balances. Preparing trial balances periodically will help you to fix errors as soon as it happens.
Related Questions - 1
The rate of trade discount varies with the ________ purchased
A) Total asset
B) Current asset
C) Quantity
D) None of these
Related Questions - 2
What is the advantage of a computer-based transaction processing system
A) Does not require as stringent a set of internal controls
B) Will produce a more accurate set of financial statements
C) Eliminates the need to reconcile control accounts and subsidiary ledgers
D) Will be more efficient at producing financial statements
Related Questions - 3
Which of the following is the predefined stock category in tally
A) Primary
B) Symbol
C) Stock
D) Main location
Related Questions - 4
A ________ serves the purpose of both journal and ledger accounts
A) Journal proper
B) Purchase day book
C) Cash book
D) Any of the above
Related Questions - 5
Which option is used to copy company’s data into pendrive or CD
A) Backup
B) Restore
C) Split Company Data
D) Copy Data