CBSE Questions for Class 11 Commerce Accountancy Trial Balance And Rectification Of Errors Quiz 3 - MCQExams.com

A Trial Balance facilitates smooth preparation of ______________.
  • final accounts
  • cash book
  • subsidiary books
  • journal
State whether the following statements are True or False.
In Trial balance Opening Stock is recorded in credit balance column.
  • True
  • False
For which type of error, journal entry is required for rectification? 
  • One sided error.
  • Two sided error.
  • Over casting of an account.
  • Under casting of an account.
Error occurred due to wrong posting are called as errors of ___________.
  • Compensating
  • Omission
  • Principle
  • Commission
Select the most appropriate alternative from those given below and rewrite the sentence.
Mistakes involving wrong posting are called as errors of __________.
  • Compensating
  • Omission
  • Principle
  • Posting clerical error
State whether  the following statements are True or False:
Compensating errors affect the agreement of trial balance.
  • True
  • False
State whether the following statement is True or False:-
Suspense account is automatically closed after rectification of all errors.
  • True
  • False
State whether  the following statements are True or False:
Errors of commission do not allow the trial balance to agree.
  • True
  • False
State whether the following statement is True or False.
A Trial balance is a list of ledger balances.
  • True
  • False
State whether  the following statements are True or False:
Preparation of trial balance helps in locating an error of principle.
  • True
  • False
State whether  the following statements are True or False:
Purchase of furniture has been debited to general expenses is an error of omission.
  • True
  • False
Errors which compensate the effect of each other are called __________ errors.
  • compensating
  • one sided
  • two sided
  • clerical
State whether  the following statements are True or False:
Errors committed due to lack of accounting knowledge are errors of omission.
  • True
  • False
State whether  the following statements are True or False:
The total of purchase book casts short by Rs.1,000/- will not affect the trial balance.
  • True
  • False
State whether the following statement is True or False.
Trial balance is prepared just before the preparation of final accounts.
  • True
  • False
State whether the following statement is True or False.
A Trial balance shows only arithmetical accuracy.
  • True
  • False
State whether the following statement is True or False.
Trial balance has two sides i.e. liability side and asset side.
  • True
  • False
State whether the following statement is True or False.
Capital balance is not included in a trial balance.
  • True
  • False
State whether the following statement is True or False.
A trial balance is prepared only once in a year.
  • True
  • False
State whether the following statement is True or False.
A Trial balance can be prepared monthly, quarterly, weekly or yearly also.
  • True
  • False
State whether the following statement is True or False.
A trial balance is a statement and it is not a account.
  • True
  • False
State whether the following statement is True or False.
A Trial balance does not ensure accounting accuracy.
  • True
  • False
State whether the following statement is True or False.
In preparation of gross trial balance, ledger account balances are extracted.
  • True
  • False
Trial balance is prepared _________.
  • before balancing the account
  • after balancing the account
  • before ledger posting
  • every month
State whether the following statement is True or False.
Trial balance is prepared on a separate sheet of paper.
  • True
  • False
State whether the following statement is True or False.
Net trial balance is more popular than gross trial balance.
  • True
  • False
State whether the following statement is True or False.
Trial balance is prepared at the end of the accounting year.
  • True
  • False
State whether the following statement is True or False.
Preparation of trial balance helps in locating accounting errors.
  • True
  • False
State whether the following statement is True or False.
Debit balance on ledger account is shown in debit column of the trial balance.
  • True
  • False
_________ is a statement of accounts which appeared in the ledger.
  • Trial balance
  • Memorandum of account
  • Balance sheet
  • Journal
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Practice Class 11 Commerce Accountancy Quiz Questions and Answers