Ledger And Trial Balance
5 Questions
| Total Attempts: 1191
Answer all questions.
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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