Trial balance is a_____

(a)

Statement

(b)

Account

(c)

Ledger

(d)

Journal

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

(a)

Trading account

(b)

Trial balance

(c)

Journal

(d)

Profit and loss account

The trial balance contains the balances of_____

(a)

Only personal accounts

(b)

Only real accounts

(c)

Only nominal accounts

(d)

All accounts

The difference of totals of both debit and credit side of trial balance is transferred to _________

(a)

Trading account

(b)

Difference account

(c)

Suspense account

(d)

Miscellaneous account

Trial balance is prepared ____________

(a)

At the end of the year

(b)

On a particular date

(c)

For a year

(d)

None of the above

______________ is a statement containing the debit and credit balances of all ledger accounts on a particular date.

(a)

Trial Balance

(b)

Balance Sheet

(c)

Trading account

(d)

Profit and loss account

The preparation of ___________ is the third step in the accounting process.

(a)

journal

(b)

ledger

(c)

trial balance

(d)

balance sheet

The first step is recording the business transactions in ____________.

(a)

Subsidiary Books/Journal

(b)

Ledger

(c)

Balance Sheet

(d)

Trial balance

______________helps to check the arithmetical accuracy of entries made in the accounting records.

(a)

Balance Sheet

(b)

Trial Balance

(c)

Bookkeeping

(d)

Double Entry

The trial balance helps in discovering errors which may have been committed in the __________.

(a)

accounting transactions

(b)

accounting standard

(c)

accountancy

(d)

accounting records