Ledger And Trial Balance

5 Questions | Total Attempts: 1191

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Questions and Answers
  • 1. 
    Which of the following best describes trial balance?
    • A. 

      Shows the financial position of a business

    • B. 

      It is a special account

    • C. 

      Shows all the entries in the books

    • D. 

      Shows all the entries in the books

  • 2. 
    Is it true that the trial balance totals should agree?
    • A. 

      No, there are sometimes good reasons why they differ

    • B. 

      Yes, except where the trial balance is extracted at the year end

    • C. 

      Yes, always

    • D. 

      No, because it is not a balance sheet

  • 3. 
    When capital increases, it is credited in the T account.
    • A. 

      True

    • B. 

      False

  • 4. 
    When capital increases, it is credited in the T account.
    • A. 

      True

    • B. 

      False

  • 5. 
    The T accounts must be balanced off before doing the trial balance.
    • A. 

      True

    • B. 

      False

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