CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Trial Balance Quiz 3 - MCQExams.com

Preparation of Trial Balance helps, mainly in  ________.
  • summarising business transactions
  • verifying the 'generally accepted accounting principles' have been observed
  • finalising the 'sources and uses of funds' statement
  • locating errors, if any, in books of accounts
Trial balance is a conclusive proof of accuracy of accounts.
  • True
  • False
Balance appearing on the credit side of the trial balance is _________.
  • a gain
  • a revenue
  • a liability
  • all of these
At the end of the accounting period or at the end of each month, the balances of the ledger accounts are extracted and is prepared to test as to whether the total debits are equal to total credits.
  • Profit & Loss Account
  • Balance Sheet
  • Cash Flow Statement
  • Trial balance
Trial balance is an account. 
  • True
  • False
Which of the following is the objective of trial balance?
  • To ascertain the geometrical accuracy of the ledger accounts.
  • To help in locating errors.
  • To help in the preparation of the accounting report.
  • None of the above
A ______ is a schedule or list of balances of both debit and credit extracted from various accounts.
  • Profits & Loss Account
  • Balance Sheet
  • Cash Flow Statement
  • Trial balance
Which of the following statements is correct?
  • The trial balance is prepared after preparing the profit and loss account.
  • The trial balance shows only balances of assets and liabilities
  • The trial balance shows only nominal account balances.
  • The trial balance has no statutory importance from the point of view of law.
The balances of all assets accounts, expenses accounts, losses, drawing are placed in the __________ of the trial balance.
  • credit column
  • debit column
  • ledger folio
  • none of the above
What is UNCOMMON in trial balance?
  • Balances of personal, real and nominal account are shown
  • Closing stock appears in trial balance
  • Statement of assets and liabilities
  • Both b & c
Closing stock will never appear in the Trial Balance. 
  • True
  • False
The balances of all liabilities accounts, income accounts, profits, capital are placed in the _________ of the trial balance.
  • credit column
  • debit column
  • ledger folio
  • none of the above
Which of the following statement contains all the types of account i.e., personal, real & nominal account?
  • Balance sheet
  • Trial balance
  • Income statement
  • None of the above
___________ is a statement of debit & credit balances, while __________ is a statement of assets and liabilities.
  • Profit & loss, Balance sheet
  • Trial balance, Balance sheet
  • Balance sheet, Trading account
  • Trial balance, Profit & loss
State with reasons whether the following statement is true or false:
Trial Balance is prepared after preparing the Profit and Loss A/c.
  • True
  • False
Bank overdraft is shown on the _______ side of trial balance.
  • credit
  • debit
  • front
  • none of these
Which of the following is/are method for preparation of trial balance?
  • Balances Method
  • Totals Method
  • Both (A) & (B)
  • None of the above
The credit side of trial balance show __________.
  • Bank
  • Cash
  • Equipment
  • None of the above
Which of the following best describes a trial balance?
  • It is a list of balances on the books
  • Shows the financial position of a business
  • Shows all the entries in the books
  • It is a special account
If the totals of two columns of trial balance are equal it means _________.
  • ledger posting is correct
  • no outstanding debit
  • no outstanding credit
  • all of the above
Trial balance proves only the __________ accuracy of ledger posting.
  • debit values
  • accounting 
  • arithmetical
  • credit values
One of the objective of preparing Trial Balance is to help locate ___________.
  • clerical errors
  • financial statements
  • difference between ledger and journal
  • none of the above
It is irrelevant to check below mentioned to trace the error in trial balance:
  • Check the total of debit and credit column
  • Totals of subsidiary books
  • No mistakes in the balancing of various accounts
  • None of the above
The statement showing balance of all the ledger accounts is known as ______________.
  • Trial balance
  • Balance sheet
  • Bank reconciliation statement
  • Profit and loss account.
 In case of Trial Balance, balance comes from _________.
  • Journal
  • Ledger
  • Balance Sheet
  • Profit & Loss A/c.
Which of the following will disturb the balancing of the trial balance?
  • Error in adding up a book of prime entry
  • Entering an acquisition of an asset, on credit terms, in the Purchases Day Book
  • Posting to an asset account instead of an expenditure account
  • Entering a wrong amount in a book of prime entry
It is a check on the accuracy of posting. If the trial balance agrees it proves that - 
The books are arithmetically accurate 
Both the aspects of the transactions have correctly recorded in the books of original entry as well as in the ledger. 
The correct answer is ___________________.
  • $$1$$ but not $$2$$
  • $$2$$ but not $$1$$
  • Both $$1$$ & $$2$$
  • Either $$1$$ or $$2$$
Bank overdraft is shown on the _____side of trial balance. 
  • Credit
  • Debit
  • None
  • Both
A _______ is a schedule or list of balances of both debit and credit extracted from various accounts. 
  • Profit & Loss Account
  • Balance Sheet
  • Cash Flow Statement
  • Trial Balance
Which of the following statements is correct about trial balance?
  • A Trial balance is a list of all entries made in the books of account
  • A Trial balance is a list of balances in all assets accounts
  • A Trial balance is another ledger account
  • A Trial balance is a list of balances in the cash account and all ledger accounts.
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers