Trial balance is prepared on ________ basis
A) Monthly
B) Annually
C) Half yearly
D) Any of the above
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
Recording of actual stock as physically verified or counted is done through
A) Journal
B) Stock Journal
C) Physical Stock
D) Sales
Related Questions - 2
Which of the following shows daily balance for a selected voucher type
A) Day book
B) Trial Balance
C) Balance Sheet
D) None of the above
Related Questions - 3
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 - 4
By which option Purchase or Sales register can be viewed
A) Statutory Books
B) Inventory Books
C) Accounts Books
D) Display
Related Questions - 5
Which option is used to place data taken in pen drive or CD to Appropriate place in Tally
A) Backup
B) Restore
C) Split Company Data
D) None of these