Trial Balance
Commerce ⇒ Accountancy
Trial Balance starts at 11 and continues till grade 12.
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See sample questions for grade 11
A trial balance has the following balances: Cash ₹5,000 (Dr), Capital ₹10,000 (Cr), Purchases ₹3,000 (Dr), Sales ₹7,000 (Cr). What is the total of the credit column?
A trial balance shows the following: Capital ₹20,000 (Cr), Drawings ₹2,000 (Dr), Purchases ₹10,000 (Dr), Sales ₹15,000 (Cr). What is the total of the debit column?
Explain the difference between a trial balance and a balance sheet.
Explain the limitations of a trial balance.
Explain the steps involved in preparing a trial balance.
Explain why closing stock is not shown in the trial balance.
A trial balance has the following balances: Cash ₹5,000 (Dr), Capital ₹10,000 (Cr), Purchases ₹3,000 (Dr), Sales ₹7,000 (Cr). What is the total of the credit column?
A trial balance shows the following: Capital ₹20,000 (Cr), Drawings ₹2,000 (Dr), Purchases ₹10,000 (Dr), Sales ₹15,000 (Cr). What is the total of the debit column?
Which method is commonly used for preparing a trial balance? (1) Total method, (2) Balance method, (3) Both (1) and (2), (4) None of these
Which of the following accounts will have a credit balance? (1) Purchases, (2) Sales, (3) Wages, (4) Rent paid
Which of the following accounts will have a debit balance? (1) Capital, (2) Sales, (3) Purchases, (4) Commission received
Which of the following errors can be detected by a trial balance? (1) Error of omission, (2) Error of principle, (3) Posting to wrong side, (4) Compensating error
A trial balance is usually prepared at the end of ________.
Fill in the blank: The trial balance is prepared from the balances of ________ accounts.
Fill in the blank: The trial balance is prepared to check the ________ accuracy of the books of accounts.
Fill in the blank: The trial balance is prepared to check the ________ of the books of accounts.
State whether the following statement is True or False: 'Trial balance is a conclusive proof of accuracy.'
State whether the following statement is True or False: 'Trial balance is prepared after posting to the ledger.'
State whether the following statement is True or False: 'Trial balance is prepared to locate errors in the books of accounts.'
True or False: If the trial balance agrees, it means there are no errors in the books of accounts.
