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11th Standard English Medium Accountancy Subject Trial Balance Creative 2 Mark Questions with Solution Part - I updated Creative Questions

11th Standard English Medium Accountancy Subject Trial Balance Creative 2 Mark Questions with Solution Part - I

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10
    5 x 2 = 10

  1. Is Trial balance an account or a statement?

  2. Is it correct to say that trial balance facilitates the preparation of financial statements?

  3. What will be the effect on trial balance if purchases return of Rs. 10,000 has been wrongly posted to the debit of sales return account but correctly entered in the customer's account?

  4. Trial Balance is a link between the ledger and final accounts. Explain.

  5. Definition of trial balance.

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