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
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
Tally package is developed by
A) Peutronics
B) Tally Solutions
C) Coral Softwares
D) Vedika Softwares
Related Questions - 4
Which of the following is the predefined stock category in tally
A) Primary
B) Symbol
C) Stock
D) Main location
Related Questions - 5
Which of the following can be budgeted in tally
A) Nett Transactions
B) Closing Balance
C) Both A and B
D) None of the above