Debit balance = Credit balance in a trial balance indicates that:

Related Mcqs:

Bookkeeping mainly concerns with which part of accounting process?

A. Analyzing B. Preparing financial statements C. Recording financial information D. Auditing the books of accounts...

The process of recording is done?

A. Two times a year B. once a year C. Frequently during the accounting period D. At the end of a accounting period...

In a three column cash book_______________does not exist?

A. Cash column B. Bank column C. Petty cash column D. Discount column...

Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?

A. Errors in cash book B. Errors in pass book C. Cheques deposited and cleared D. Cheques issued but not presented for payment...

At the time of preparation of financial accounts, bad debt recovered account will be transferred to?

A. Debtors A/c B. Profit & Loss A/c C. Profit & Loss Adjustment A/c D. Profit & Loss Appropriation A/c...