Essential Book Keeping - Qp15

6 Questions | Total Attempts: 33

SettingsSettingsSettings
Please wait...
Essential Book Keeping - Qp15

Questions and Answers
  • 1. 
    A balance sheet is a means of checking the accuracy of the accounts.
    • A. 

      True

    • B. 

      False

  • 2. 
    It is important to draw up a trial balance before starting on drawing up the profit and loss balance sheet at year end.
    • A. 

      True

    • B. 

      False

  • 3. 
    A trial balance is not part of the double entry system, it is purely a list of account balances.
    • A. 

      True

    • B. 

      False

  • 4. 
    Reasons why a trial balance may not balance immediately includes: (Select three)
    • A. 

      Mathematical errors

    • B. 

      Mixing debits and credits.

    • C. 

      Errors of omission

    • D. 

      Part postings

  • 5. 
    ______ occur when a transaction is posted to the wrong type of account completely.
    • A. 

      Errors of principal

    • B. 

      Errors of reversal

  • 6. 
    A control or total account can be very useful to assist in finding errors.
    • A. 

      True

    • B. 

      False

Back to Top Back to top