Trial Balance

(a)   is a statement showing list of balances in a double entry form extracted from the ledgers to test the arithmetical accuracy of the accounts.

All items with debit balance in the ledger will be (a)  

Total debit must be (a)   total credited.

In the layout of trial Balance, the "capital" is mainly on the _____

• Credit side

• Debit side

• Both credit and debit side

• It depends if the capital is debited or credited

Provision for doubtful debts is posted on the ______ in the trial Balance.

• Debit

• Credit

• Both sides

• I am not sure, doubtful debts should not reflect in the trial Balance.

One difference between trial Balance and balance sheet is that, while the balance sheet is a statement showing assets and liabilities, the trial Balance shows:

• The ledger obligation in any business

• The classification of balances

• The financial position

• Lists of ledger balances

What is the main objective of trial Balance?

(a)  

Trial balance is used to check the accuracy of

• Balance sheet balances

• Ledger accounts balances

• Cash flow statement balances

• Income statement balances

What is used in preparing trial balance?

• Specialised Journals

• Balance Sheet

• Ledger Accounts

• General Journa

What is the trial balance used for?

• It is a financial statement

• It records balances of a balance sheet

• It doesn’t contribute to the accounting cycle

• It records balances of accounts