Trial balance

While calculating cost of goods sold _____________should be added.

• 1) Wages

• 2) Salaries

• 3) Carriage outwards

• 4) None of them

Which item is shown as debit balance in trial balance

• Cash in hand

• Bank overdraft

• Rent outstanding

• Creditors

Preparation of trial balance helps in

• Judging the financial position

• Locating errors of all type

• Preparation of final account

• None of these

Trial balance is prepared from

• Ledger

• Ledgers and journal

• Ledger and cash book

• None of these

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

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

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

Which of the following is not a process in the preparation of a Trial Balance?

• (a) Recording

• (b) Summarizing

• (c) Classifying

• (d) Interpretation