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


Default ledger accounts in tally are ________


A) Balance sheet profit & loss and trial balance
B) Profit & loss and trial balance
C) Cash and profit & loss accounts
D) Cash and bank accounts

View Answer

Related Questions - 2


eTCS means


A) Enable Tax Collected at Source
B) Electronic Tax Collected at Source
C) Electric Tax Collected at Source
D) None of these

View Answer

Related Questions - 3


To hide the name of the Company you need to define


A) Security Control
B) Tally Audit
C) Create at least one User
D) Tally Vault Password

View Answer

Related Questions - 4


Which option is selected from Company Info Menu to divide company data into two financial years


A) Change Tally Vault
B) Alter
C) Split Company Data
D) New Company

View Answer

Related Questions - 5


Which menu appears after starting Tally for the first time


A) Gateway of Tally
B) Company Info
C) Display
D) None of these

View Answer