Trial Balance

Trial Balance

11th Grade - Professional Development

12 Qs

quiz-placeholder

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Trial Balance

Trial Balance

Assessment

Quiz

Other

11th Grade - Professional Development

Hard

Created by

oluwadamilola adeyemi

Used 84+ times

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12 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

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

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

All items with debit balance in the ledger will be ______

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Total debit must be ______ total credited.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What is the main objective of trial Balance?

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