Practice Test

Q1) A trial balance will not balance if Show Answer

Q2) Rs.1,500 received from sub-tenant for rent and entered correctly in the cash book is posted to the debit of rent account. In the trail balance Show Answer

Q3) After the preparation of ledgers , the next step is preparation of Show Answer

Q4) A trial balance is a list of ________ accounts.
Show Answer

Q5) The trial balance shows only ________ accuracy.
Show Answer

Q6) A trial balance is a ________.
Show Answer

Q7) A trial balance provides the base for preparation of ______.
Show Answer

Q8) Total of all debit balances must be ____ to the total of credit balances.
Show Answer

Q9) Sales account always shows ________ balance.
Show Answer

Q10) A trial balance is generally prepared at the end of each _______.
Show Answer

Q11) Drawings account appears in _______ column of trial balance.
Show Answer

Q12) Income tax appears in trial balance ________ column.
Show Answer

Q13) ________ accounts usually shows a debit balance.
Show Answer

Q14) ________ is the base for the preparation of final account.
Show Answer

Q15) Capital account show ________ balance.
Show Answer

Q16) ________ is a old age method used for preparation of trial balance.
Show Answer

Q17) The balance of _______ account will be shown at the debit balance.
Show Answer

Q18) Trial balance is a ________.
Show Answer

Q19) An agreement of the trial balance does not prove that______ Show Answer

Q20) _____ are passed at the beginning of the financial year to open the book by recording the assets , liabilities and capital appearing in the balance sheet of the previous year. Show Answer

Q21) _______are used at the end of the accounting year for closing of accounts relating to expenses and revenues. Show Answer

Q22) Opening,Closing & ,Adjustment entries are recorded in ______ Show Answer

Q23) At the end of the accounting year______ are to be passed for outstanding / prepaid ,accrued /income /income received in advance etc. Show Answer

Q24) ______ are passed in the general journal for transferring an item entered in one account an other account Show Answer

Q25) _______are passed for rectifying errors which might have committed in the books of account Show Answer

Q26) A____ is a schedule or list of balance of balance both debit and credit extracted from various accounts. Show Answer

Q27) It is a check on the accuracy of posting .If the trial balance agrees it proves that : Show Answer

Q28) At the end of the accounting period or at the end of each month, the balances of the ledger accounts are extracted and _____ is prepared to test as to whether the total debit are equal to total credits Show Answer

Q29) Which of the following is/ are method for preparation of trial balance? Show Answer

Q30) If the trial balance do not agree after transferring the balance of all ledger accounts including cash and bank balance and also errors are not located timely, then the trial balance is tallied by transferring the difference of debit and credit side to an account known as ____ Show Answer

Q31) The balance of all assets accounts expense account ,losses ,drawings are places in the _____ of the trial balance Show Answer

Q32) The balance of all liabilities accounts ,income accounts , profit , capital,are placed in the ______of the trial balance. Show Answer

Q33) All expense and ______ accounts appearing in the trial balance are transferred to the trading and profit and loss account. Show Answer

Q34) After the preparation of ledger ,the next step is the preparation of ______ Show Answer

Q35) Difference of totals of both debit and credit side of the trial balance is transferred to ______ Show Answer

Q36) Bank overdraft is shown on the ____ side of trial balance. Show Answer

Q37) After preparing the trial balance the accountant finds that the total of debit side is short by Rs.1,500. This difference will be____ Show Answer

Q38) Trial balance is a statement which shows _____ of all accounts. Show Answer

Q39) Which of the following errors are not revealed by the trail balance? Show Answer

Q40) A started business with cash 10,000 and furniture's 2,000.Total sales were 50,000 including 5,000 cash sales. 10,000 were outstanding at the end of the year. Total purchases 30,000 including 10,000 cash purchases 15,000 were paid to the suppliers. Expenses paid amounted to 19,000 Total of trial balance is: Show Answer