Trial Balance
Commerce ⇒ Accountancy
Trial Balance starts at 11 and continues till grade 12.
QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Trial Balance.
How you perform is determined by your score and the time you take.
When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 12
Explain the 'Balance Method' of preparing a trial balance.
Explain the effect of compensating errors on the trial balance.
Explain the term 'Suspense Account' in the context of trial balance.
Explain the 'Total Method' of preparing a trial balance.
Explain why closing stock does not appear in the trial balance.
If the balance of 'Bank Overdraft' is Rs. 10,000, on which side of the trial balance will it appear?
If the balance of 'Discount Allowed' is Rs. 2,000, on which side of the trial balance will it appear?
If the balance of 'Interest Received' is Rs. 1,500, on which side of the trial balance will it appear?
A trial balance is prepared to check the ________ of the books of accounts. (1) Arithmetical accuracy, (2) Legal validity, (3) Financial position, (4) Profitability
Which method is NOT used for preparing a trial balance? (1) Total method, (2) Balance method, (3) Single entry method, (4) Total and balance method
Which of the following accounts will always have a debit balance? (1) Cash, (2) Capital, (3) Sales, (4) Purchases
Which of the following accounts will have a credit balance? (1) Capital, (2) Drawings, (3) Sales, (4) Purchases
A trial balance is prepared after ________ and before ________.
A trial balance is prepared to check the ________ accuracy of the books of accounts.
A trial balance is usually prepared at the end of ________.
The balance of 'Drawings' account is shown on the ________ side of the trial balance.
If a transaction is recorded twice in the books, will the trial balance still agree? Yes or No.
If the debit and credit columns of a trial balance do not agree, it always means there is a fraud. True or False?
If the trial balance agrees, does it mean that there are no errors in the books? Yes or No.
State whether the following statement is True or False: 'A trial balance can be prepared at any time during the accounting period.'
