Final Account  - 2

Final Account - 2

University

11 Qs

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Final Account  - 2

Final Account - 2

Assessment

Quiz

Social Studies

University

Practice Problem

Medium

Created by

Jabeen Bushra

Used 12+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Trial balance is the balance of all the

Journal

Ledger account

Books

Nota

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Trial balance is prepared before or after the final account

Before

After

Both a and b

Nota

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Balance sheet consists of

Debit and credit

Income and expense

Assets and liabilities

Nota

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Balance sheet has to

Accurate

Tally

equal

Nota

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Assets are the

Business properties

Debt

Income

Nota

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Liabilities are

Business debt

Properties

Losses

Income

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Assets are the following types

2

1

3

4

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