Which of the following will affect the agreement of a trial balance?

A. Complete omission of a transaction
B. Partial omission of a transaction
C. Error of principle
D. Compensating errors

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

Debit 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

Which 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

If 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