TRIAL BALANCE

Method of preparation of Trial balance are

• (a) Balance Method

• (b) Total Method

• (c) Total and Balance Method

• (d) All of these

Trial balance is a :

• (a) Statement

• (b) Account

• (c) Summary

• (d) Ledger

The preparation of trial balance is for:

• (a) Locating errors of commission

• (b) Locating errors of principle

• (c) Locating clerical errors

• (d) All of the above

The Trial Balance of M/S Ram & Co. shows closing Stock of 30,000. It will be recorded in:

• (a) Trading account

• (b) Profit and Loss Account

• (c) Balance Sheet

• (d) Both (a) and (c)

Difference of totals of both debit and credit side of trial balance is transferred to:

• (a) Trading account

• (b) Suspense account

• (c) Difference account

• (d) Miscellaneous account

Trial Balance under balance method is known as:

Balance Appropriation

• (a) Gross Trial Balance

• (b) Net Trial Balance

• (c) Simple Trial Balance

• (d) Trial Balance Appropriation

A Trial Balance contains the balance of:

• (a) Only Personal and Real account

• (b) Only Real and Nominal accounts

• (c) Only Nominal and Personal accounts

• (d) All accounts

Trial Balance is prepared on:

• (a) End of the year

• (b) A particular date

• (c) For the period ending ____

• (d) Both “a” and “b

Balances of the Accounts are transferred to:

• (a) Trial Balance

• (b) Trading Account

• (c) Profit & Loss Account

• (d) Balance Sheet

A list which contains balances of accounts to know whether the debit and credit balances are matched. ‘

• (a) Balance Sheet

• (b) Day Book

• (c) Journal

• (d) Trial Balance