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
Which account is the odd one
A) Furniture
B) Land and buildings
C) Stock of raw materials
D) Plant and machinery
Related Questions - 2
Which submenu is used for voucher entry in Tally
A) Vouchers
B) Accounting Vouchers
C) Accounts Info
D) None of these
Related Questions - 3
BOM represents
A) Billing of Machines
B) Bill of Materials
C) Bill of Maintenance
D) None of these
Related Questions - 4
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