Test: Trial Balance


30 Questions MCQ Test Principles and Practice of Accounting | Test: Trial Balance


Description
This mock test of Test: Trial Balance for Commerce helps you for every Commerce entrance exam. This contains 30 Multiple Choice Questions for Commerce Test: Trial Balance (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Trial Balance quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Trial Balance exercise for a better result in the exam. You can find other Test: Trial Balance extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

 Trial Balance is a :

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QUESTION: 2

 Find out the total of Debit side of the Trial Balance from the following list of balances extracted from the books of Mr. Yoshin as on 31st March, 2014. 

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QUESTION: 3

Trial Balance creates _______accuracy. 

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QUESTION: 4

Salaries paid Rs. 4,500 is shown in credit side of trial balance. In the total of trial balance the debit side will be short by _____

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QUESTION: 5

 Bhandari’s trial balance was showing difference of Rs. 5,000 (debit side exceeds). While checking of total sales register, he found that the total is overcast by Rs. 2,000. After correction in sales register what would be the difference in his trial balance. 

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QUESTION: 6

Balances of the accounts are transferred to : 

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QUESTION: 7

Difference of totals of both debit and credit side of trial balance is transferred to : 

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QUESTION: 8

The preparation of trial balance is for : 

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QUESTION: 9

After the preparation of ledgers, the next step is the preparation of 

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QUESTION: 10

 Methods of preparation of Trial Balance are : 

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QUESTION: 11

Which of the following is not a process in the preparation of a Trial Balance ?

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QUESTION: 12

A Trial Balance contains the balances of : 

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QUESTION: 13

 The Trial Balance of M/S RAM & Co. shows closing Stock of Rs. 30,000. It will be recorded in : 

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QUESTION: 14

.

The difference in trial balance is due to:

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QUESTION: 15

 A Trial balance will not balance if 

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QUESTION: 16

 Rs. 1500 received from sub-tenant for rent and entered correctly in the cash book is posted to the debit of the rent account. In the trial balance

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QUESTION: 17

Which of the following will not affect the agreement of Trial Balance ?

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QUESTION: 18

Methods of preparation of Trial Balance are : 

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QUESTION: 19

 Difference of totals of both debit and credit side of trial balance is transferred to : 

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QUESTION: 20

__________ is prepare to ascertain the arithmetical accuracy of posting and balancing 

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QUESTION: 21

A list which contains balances of accounts to know whether the debit and credit balances are matched.

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QUESTION: 22

Trial Balance under balance method is known as :

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QUESTION: 23

The preparation of trial balance is for : 

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QUESTION: 24

After preparing the trial balance the accountant finds that the total of debit side is short by Rs. 1,500. This difference will be

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QUESTION: 25

 Trial Balance is prepared on :

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QUESTION: 26

 Agreement of Trial Balance is not a _______ proof of accuracy. 

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QUESTION: 27

 A Trial Balance contains the balances of : 

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QUESTION: 28

Closing stock in the trial balance implies that.

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QUESTION: 29

 Opening and Closing Balance of Debtors A/c were Rs. 30,000 and 40,000 respectively cash collected from the debtors during the year was Rs. 2,40,000. Discount allowed to debtors for timely payment amounted to Rs. 15,000 and bad debts written off were Rs. 10,00. Goods sold on credit were:

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QUESTION: 30

 Which of the following in Trial Balance is contradictory to each other? __________.

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The correct option is D

A trial balance is the accounting equation of our business laid out in detail. It has our assets, expenses and drawings on the left (the debit side) and our liabilities, revenue and owner's equity on the right (the credit side).

Since inventory is an asset and drawings are expenses, both are debit items.

Sales are a form of income so go on the credit side of the trial balance.Purchases returns will reduce the expense so go on the credit side.

Carriage inwards in trial balance and Carriage outwards in trial balance are both treated as just another expense, so they are debit items

Trade receivables are revenues so are recorded on debit side and liability is recorded as a credit item.

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