Trial balance is commonly prepared?
A. Frequently during the year
B. At the end of an accounting period
C. At the end of a month
D. At the end of a year
Trial balance is commonly prepared? Read More »
Accounting MCQs / Q&ADebit balance = Credit balance in a trial balance indicates that:
A. No error in recording transactions
B. No error in posting entries to ledger accounts
C. Account balances are correct
D. Mathematically Capital+Liabilities=Assets
Debit balance = Credit balance in a trial balance indicates that: Read More »
Accounting MCQs / Q&AWhich of the following is true about a trial balance?
A. It lists down the balances of accounts
B. It lists down the balances of a balance sheet
C. It is a kind of financial statement
D. It is not a part of accounting cycle
Which of the following is true about a trial balance? Read More »
Accounting MCQs / Q&A A. Ledger accounts
B. General Journal
C. Specialized journals
D. Balance sheet
________ is the common base for preparing a trial balance? Read More »
Accounting MCQs / Q&A, LedgerIf a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?
A. Yes
B. No
C. Transactions can’t be omitted
D. none of these
A. Ledger accounts balances
B. Balance sheet balances
C. Income statement balances
D. Cash flow statement balances
Trial balance is prepared to check accuracy of_______________? Read More »
Accounting MCQs / Q&A, Ledger A. 1949
B. 1956
C. 1961
D. 1972
Institute of Chartered Accountants of Pakistan was established in____________? Read More »
Accounting MCQs / Q&A, Auditing Mcqs, Introduction to AuditingGoods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?
A. Error of principle
B. Error of commission
C. Error of omission
D. Error of duplication
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?
A. Error of omission
B. Error of commission
C. Compensating error
D. Error of principle
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________? Read More »
Accounting MCQs / Q&A, Auditing McqsWhich of the following is the most powerful computers?
A. Mainframe Computer
B. Mini Computers
C. Micro Computers
D. Super Computers
Which of the following is the most powerful computers? Read More »
Computer Mcqs, MCQs / Q&A