Accounting Process – Trial Balance 0 Accounting Process - Trial Balance 1 / 26 Q.30 _______are passed for rectifying errors which might have committed in the books of account Transfer Entries Adjustment entries Rectification Entries Opening Entries 2 / 26 Q.29 An agreement of the trial balance does not prove that______ All transactions have been correctly analyzed and recorded in the proper accounts All transactions have been recorded in the books of original entry Both (a) & (b) None of the above 3 / 26 Q.28 After the preparation of ledgers , the next step is preparation of Trading accounts Trail balance Profit and loss account None of these 4 / 26 Q.26 All expense and ______ accounts appearing in the trial balance are transferred to the trading and profit and loss account. Loss Asset Liability Revenue 5 / 26 Q.25 At the end of the accounting year______ are to be passed for outstanding / prepaid ,accrued /income /income received in advance etc. Transfer Entries Adjustment entries Closing Entries Opening Entries 6 / 26 Q.24 _____ are passed at the beginning of the financial year to open the book by recording the assets , liabilities and capital appearing in the balance sheet of the previous year. Transfer Entries Adjustment entries Closing Entries Opening Entries 7 / 26 Q.21 A____ is a schedule or list of balance of balance both debit and credit extracted from various accounts. Profit & Loss Account Balance Sheet Cash Flow Statement Trial Balance 8 / 26 Q.20 Which of the following errors are not revealed by the trail balance? Wrong amount entered in the book of original entry Wrong amount entered in the sales book Complete omission of a transaction in the book of original entry All of the above 9 / 26 Q.19 Difference of totals of both debit and credit side of the trial balance is transferred to ______ Miscellaneous account Difference account Trading account Suspense account 10 / 26 Q.18 After preparing the trial balance the accountant finds that the total of debit side is short by Rs.1,500. This difference will be____ Credited to suspense account Debit to suspense account Adjusted to any of the debit balance account Adjusted to any of the credit balance account 11 / 26 Q.17 _______are used at the end of the accounting year for closing of accounts relating to expenses and revenues. Transfer Entries Adjustment entries Closing Entries Opening Entries 12 / 26 Q.16 Opening,Closing & ,Adjustment entries are recorded in ______ Purchase book Sales book Petty cash book Journal proper 13 / 26 Q.15 Trial balance is a ________. Account Statement Additional books of A/c Income summary 14 / 26 Q.14 The balance of _______ account will be shown at the debit balance. Cash Bank Capital A/c Sales A/c 15 / 26 Q.13 ________ is a old age method used for preparation of trial balance. Gross trial balance Net trial balance a and b both None of the above 16 / 26 Q.12 Capital account show ________ balance. Debit Credit Debit or credit Positive 17 / 26 Q.11 ________ is the base for the preparation of final account. Ledger A/c P & L A/c Trial balance Special journals 18 / 26 Q.10 ________ accounts usually shows a debit balance. Personal Real Nominal Income 19 / 26 Q.9 Income tax appears in trial balance ________ column. Debit balance Credit balance L.F. Income 20 / 26 Q.8 Drawings account appears in _______ column of trial balance. L.F. Debit balance Credit balance None of these 21 / 26 Q.6 Sales account always shows ________ balance. Debit Credit Adverse Specific 22 / 26 Q.5 Total of all debit balances must be ____ to the total of credit balances. Different Equal More Less 23 / 26 Q.4 A trial balance provides the base for preparation of ______. Final accounts Voucher Debit note Credit note 24 / 26 Q.3 A trial balance is a ________. Ledger Journal Subsidiary Statement 25 / 26 Q.2 The trial balance shows only ________ accuracy. Arithmetical Accounting Historical Financial 26 / 26 Q.1 A trial balance is a list of ________ accounts. Personal Real Nominal Ledger Your score is LinkedIn Facebook Twitter VKontakte