Test: Trial Balance - Commerce MCQ

# Test: Trial Balance - Commerce MCQ

Test Description

## 30 Questions MCQ Test Accountancy Class 11 - Test: Trial Balance

Test: Trial Balance for Commerce 2024 is part of Accountancy Class 11 preparation. The Test: Trial Balance questions and answers have been prepared according to the Commerce exam syllabus.The Test: Trial Balance MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Trial Balance below.
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Test: Trial Balance - Question 1

### Trial Balance is a :

Test: Trial Balance - 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.

Detailed Solution for Test: Trial Balance - Question 2

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Test: Trial Balance - Question 3

### Trial Balance creates _______accuracy.

Test: Trial Balance - Question 4

In trial balance, which accounts with normal balance are recorded at the credit side?

Detailed Solution for Test: Trial Balance - Question 4

Accrued expenses account with normal balance is shown at the credit side of a trial balance.

Test: Trial Balance - 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.

Test: Trial Balance - Question 6

Balances of the accounts are transferred to :

Test: Trial Balance - Question 7

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

Test: Trial Balance - Question 8

The preparation of trial balance is for :

Test: Trial Balance - Question 9

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

Test: Trial Balance - Question 10

Methods of preparation of Trial Balance are :

Test: Trial Balance - Question 11

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

Test: Trial Balance - Question 12

A Trial Balance contains the balances of :

Test: Trial Balance - Question 13

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

Test: Trial Balance - Question 14

.

The difference in trial balance is due to:

Test: Trial Balance - Question 15

A Trial balance will not balance if

Test: Trial Balance - 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

Detailed Solution for Test: Trial Balance - Question 16

The correct option is A.

The correct journal entry should be

Cash Account         Dr.          1500

To Rent Account               1500

The entry in the cash book was correct, but the rent account was debited, which is incorrect because it should have been credited. Since the amount which has to be credited is not credited but instead is debited. So first the error is to be rectified, that is it will be credited to nullify the effect and then it will be credited again which should have been the correct entry. This means that the amount credited is doubled which will be 3000.

Test: Trial Balance - Question 17

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

Test: Trial Balance - Question 18

Methods of preparation of Trial Balance are :

Test: Trial Balance - Question 19

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

Test: Trial Balance - Question 20

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

Test: Trial Balance - Question 21

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

Test: Trial Balance - Question 22

Trial Balance under balance method is known as :

Test: Trial Balance - Question 23

The preparation of trial balance is for :

Test: Trial Balance - 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

Test: Trial Balance - Question 25

Trial Balance is prepared on :

Test: Trial Balance - Question 26

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

Test: Trial Balance - Question 27

A Trial Balance contains the balances of :

Test: Trial Balance - Question 28

Closing stock in the trial balance implies that.

Test: Trial Balance - 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:

Test: Trial Balance - Question 30

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

Detailed Solution for Test: Trial Balance - Question 30

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.

## Accountancy Class 11

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## Accountancy Class 11

82 videos|105 docs|42 tests