Which of the following is known as the base for preparing trial balance?

Related Mcqs:

Transferring entries from journal to ledger account is commonly known as____________?

A. Recording B. Transferring C. Posting D. Entry making...

An account records the ___________ in the balance of an item?

A. Increase B. Decrease C. Increase or decrease D. Appreciation...

Which of the following statements is incorrect regarding capital account?

A. Debit increases the capital account balance B. Credit increases the capital account balance C. Fresh capital increases the capital account balance D. Net income increases the capital account balance...

Which of the following is the normal balance of a rent expense account?

A. Credit balance B. Cash balance C. Overdraft D. Debit balance...

Revenue and expense accounts are referred as______________?

A. Nominal accounts B. Real account C. Cash accounts D. Banks account...