Question :

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


Professionals usually maintain accounts as


A) Accounts with inventory
B) Accounts only
C) Normal accounting
D) Payroll accounting

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Related Questions - 2


Which key is used to post entry in Debit Note in tally


A) F7
B) F8
C) Ctrl + F9
D) Ctrl + F8

View Answer

Related Questions - 3


How many inbuilt Accounts group are in tally by default


A) 29
B) 31
C) 25
D) 34

View Answer

Related Questions - 4


Vouchers can be displayed in


A) Accounts info
B) Day book
C) Inventory info
D) Ledger

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Related Questions - 5


Which step is followed to view Purchase Register


A) Gateway of Tally > Display > Sales Register
B) Gateway of Tally > Account Books > Sales Register
C) Gateway of Tally > Display > Account Books > Purchase Register
D) None of these

View Answer