Related InterviewSolutions

• Rs. 2,000 paid as wages for installing a machine should be debited toA. Wages AccountB. Machinery AccountC. Capital AccountD. Any of these
• Return Inward in the Trial Balance are deducted fromA. purchaseB. salesC. return outwardD. None of these
• Trial Balance is preparedA. before Journal is writtenB. after Journal is writtenC. after Journal is posted into ledger accounts.D. after financial statements have been prepared.
• Trial Balance can be preparedA. at any time of the year.B. at the end of the yearC. in the beginning of the yearD. None of these .
• If Trial Balance matches, it meansA. arithmetical accuracyB. book are accurateC. Both (a) and (b)D. None of these .
• Trial balance is prepared from the balance taken fromA. Day BooksB. JournalC. Balance sheetD. Ledger Accounts.
• Discount Received hasA. Debit balanceB. Credit balanceC. Both (a) and (b)D. None of these .
• If Closing Stock appears in the Trial Balance , it meansA. pruchases are adjusted against opening and closing stocks.B. purchase are adjusted against closing stockC. Both (a) and (b)D. None of the above.
• Errors of Complete omissionA. are reflected in the Trial BalanceB. are not reflected in the Trial BalanceC. Both (a) and (b)D. None of these .
• Errors of complete omission permitA. correct totalling of the Balance SheetB. correct totalling of the Trial balance.C. the Trial Balance to agreeD. None of these.