Which of the following is true about a trial balance?

A It lists down the balances of accounts
B It lists down the balances of a balance sheet
C It is a kind of financial statement
D It is not a part of accounting cycle

Correct Answer: It lists down the balances of accounts

Trial balance It lists down the balances of accounts. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column.
Bissoy MCQ
#Commerce #Accounting

Related Questions

Rashna Company collected the following data in its accounting records in 2014 : From the income statement : Depreciation expense Tk. 1,000 Loss on sale of equipment 3,000 From the comparative balance sheet : Beginning balance , equipment Tk. 12,500 Ending balance , equipment 8,000 Beginning balance , accumulated depreciation 2,000 Ending balance , accumulated depreciation 2,400 No new equipment was purchased during the year. The equipment was sold at the end of the year. What was the cash in -flow from the sale of equipment in 2014?
A Tk, 3,900
B Tk. 1,000
C Tk. 900
D Tk. 600
Which of the following account with normal balance is shown at the debit side of a trial balance?
A Rent income account
B Creditors account
C Unearned income account
D Cash account
Which of the following account with normal balance is shown at the credit side of a trial balance?
A Cash account
B Bank account
C Equipment account
D Accrued expenses account
রেওয়ামিলে দেনাদার ৫২,০০০ টাকা, লিখিত অনাদারি পাওনা ২,০০০ টাকা এবং অলিখিত অন্যদায়ি পাওনা ২,০০০ টাকা। যদি দেনাদারের ওপর ৫% সঞ্চিতি রাখা হয় এবং অনাদায়ি পাওনা সঞ্চিতির ক্রেডিট ব্যালেন্স ১,০০০ টাকা হয়, তাহলে চলতি বছরে অন্যনায়ি পাওনা সঞ্চিতি কত রাখতে হবে? (In trial balance, account receivable is of Tk. 52,000 recorded bad debt of Tk.2,000 and unrecorded bad debt of Tk. 2,000. What is the amount of allowance for doubtful accounts kept in current year if the allowance is 5% on accounts receivable and credit balance in allowance for doubtful accounts currently is of Tk. 1,000 )
A ২,৫০০ টাকা (Tk. 2,500)
B ১,০০০ টাকা (Tk. 1,000)
C ২,৪০০ টাকা (Tk. 2,400)
D 1,500 টাকা (Tk. 1,500)
The Balance sheet reported a beginning balance TK. 20,000 in Accounts Receivable and an ending balance of TK. 15,000 . Credit sale of TK. 2,00,000 were made during the year. Using the information compute cash collection from customers.
A TK. 2,05,000
B TK. 1,95,000
C TK. 2,00,000
D TK. 2,15,000
The Balance sheet reported a beginning balance TK. 20,000 in Account Receivable and an ending balance of TK. 15,000. Credit sale of TK. 2,00,000 were made during the year. Using the information computer cash collection from customers .
A TK. 2,05,000
B TK. 1,95,000
C TK. 2,00,000
D TK. 2,15,000
Certain number of children were playing a game of football. There was a trial taking place on the field. In this trial the probability that a goal is scored is 2/5. The probability that a girl hits a goal is 7/10 whereas the probability that a boy hits a goal is 1/5. What will be the probability that not only a goal is hit but it is also hit by a boy?
A 14/50
B 7/50
C 2/5
D 2/25
Certain numbers of children were playing a game of football. There was a trial taking place on the field. In this trial the probability that a goal is scored is 2/5. The probability that a gril hits a goal is 7/10 whereas the probability than a boy hits a goal is 1/5. What will be the probability that not only a goal is hit but it is also hit by a boy?
A 14/50
B 7/50
C 2/5
D 2/25
Which of the following best describes a trial balance?
A Assets - Capital = Liabilities
B Liabilities+Capital = Assets
C Liabilities+Assets=Capital
D Assets-Liabilities = Capital
Which of the following will affect the agreement of a trial balance?
A Complete omission of a transaction
B Partial omission of a transaction
C Error of principle
D Compensating errors

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