Trial balance is commonly prepared?

Related Mcqs:

Which of the following specialised journals will record “goods returned by the BUSINESS “?

A. Purchase journal B. Sales journal C. Purchases return journal D. Sales return journal...

Which of the following can be considered as the most important phase of accounting cycle and it is the primarily objective of financial accounting?

A. Identifying transactions B. Preparing “T Accounts” C. Preparing financial statements D. Preparing trial balances...

Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000

A. $6000 B. $10,000 C. $5000 D. $1000...

_________ is the evidence that a transaction took place?

A. Source documents B. Ledger C. Bonds D. Journals...

Which of the following statements is correct about Trial Balance?

A. The Trial Balance is prepared after preparing the Profit and Loss Account B. The Trial Balance shows only balances of Assets and Liabilities C. The Trial Balance shows only nominal account balances D. The Trial Balance has no statutory importance from the point of view of law...