|
A. |
An Account |
|
C. |
A Ledger |
|
|
B. |
A Statement |
|
D. |
Information |
|
Q. 2. Trail Balance is
|
A. |
Conclusive proof of
accuracy |
|
C. |
Ledger Account |
|
|
B. |
Final Account |
|
D. |
Prima facie evidence of
arithmetical accuracy |
|
Q. 3. In which statement the balances of all the accounts in the ledger are incorporated?
|
A. |
Balance Sheet |
|
C. |
Cash Flow Statement |
|
|
B. |
Trial Balance |
|
D. |
Profit and Loss Account |
|
Q. 4. Which of the following is put on the debit side of trial balance?
|
A. |
Capital Account |
|
C. |
Purchases Account |
|
|
B. |
Sales Account |
|
D. |
Discount received Account |
|
Q. 5. Which of the following is put on the credit side of trial balance?
|
A. |
Furniture Account |
|
C. |
Bills Receivable Account |
|
|
B. |
Sales Return Account |
|
D. |
Creditors Account |
|
Q. 6. The difference in the trial balance may be transferred to
|
A. |
Assets Account |
|
C. |
Suspense Account |
|
|
B. |
Liabilities Account |
|
D. |
Capital Account |
|
Q. 7. A trial balance is a list of balances in the
|
A. |
Journal |
|
C. |
Day Book |
|
|
B. |
Ledger |
|
D. |
Cash Book |
|
Q. 8. All the ledger accounts which are tabulated as a summary statement is known as
|
A. |
Balance Sheet |
|
C. |
Reconciliation |
|
|
B. |
Trial Balance |
|
D. |
Financial Statement |
|
Q. 9. In case a trial balance does not agree, in which account the difference will be shown?
|
A. |
Capital Account |
|
C. |
Suspense Account |
|
|
B. |
Trading Account |
|
D. |
Drawings Account |
|
Q. 10. A trial balance is
|
A. |
Balance sheet of a business |
|
C. |
Balance of the trading
account |
|
|
B. |
List of balances in the
ledger |
|
D. |
Difference between cash
book and bank statement |
|
Q. 11. When a suspense account is opened?
|
A. |
When balances transfer from
ledger |
|
C. |
When final account is ready
to prepare |
|
|
B. |
When reserves create on
liability |
|
D. |
When trial balance does not
agree |
|
Q. 12. What is the nature of suspense account?
|
A. |
Real Account |
|
C. |
Nominal Account |
|
|
B. |
Personal Account |
|
D. |
None of these |
|
Q. 13. Trial balance helps in preparation of
|
A. |
Cash Book |
|
C. |
Final Accounts |
|
|
B. |
Day Book |
|
D. |
Cash Flow Statement |
|
Q. 14. Trial balance is prepared for the
|
A. |
Whole year |
|
C. |
Specific date |
|
|
B. |
One month |
|
D. |
All of these |
|
Q. 15. Which of the following errors will affect the accuracy of a trial balance?
|
A. |
Repairs to building debited
to building account. |
|
C. |
Freight paid on purchase of
new machinery debited to freight account. |
|
|
B. |
The total of purchase day
book is Rs. 2,000 short. |
|
D. |
Payment of wages debited to
insurance account. |
|
Q. 16. Which of the following errors will not affect a trial balance?
|
A. |
Goods bought on credit from
B & Co. was not posted to suppliers account but was duly entered in
purchases day book. |
|
C. |
Purchase of an asset on
credit from C Bros. was entered in the purchase day book. |
|
|
B. |
Goods sold on credit to D
& Co. was debited to his account but was not entered in sales day book. |
|
D. |
Debit balance of cash book
for March was carried forward on the credit side of the cash book of April. |
|
Q. 17. Mr. X purchased a business from Mr. K with total assets of Rs. 6,50,000 and total liabilities of Rs. 50,000. In which account the difference will be shown in the trial balance?
|
A. |
Cash Account |
|
C. |
Goodwill Account |
|
|
B. |
Capital Account |
|
D. |
Profit and Loss Account |
|
Q. 18. If an amount of Rs. 500 instead of being credited to discount account was debited to discount account, by what amount will it create the difference in trial balance?
|
A. |
Rs. 250 |
|
C. |
Rs. 1,000 |
|
|
B. |
Rs. 500 |
|
D. |
Rs. 1,500 |
|
Answer:
|
1. |
B |
2. |
D |
3. |
B |
4. |
C |
5. |
D |
|
6. |
C |
7. |
B |
8. |
B |
9. |
C |
10. |
B |
|
11. |
D |
12. |
B |
13. |
C |
14. |
C |
15. |
B |
|
16. |
C |
17. |
B |
18. |
C |
|
|
: Trial Balance-I){kind=link}