Trial Balance

An Asset Account shows a _____ balance.

• Credit

• Debit

• Credit or Debit

• None of these

A trial balance is

• A Statement

• A Summary

• An Account

• None of these

Preparation of a trial balance is

• Compulsory

• Optional

• Compulsory or Optional

• None of these

Which item is shown as debit balance in the trial balance?

• Rent outstanding

• Creditors

• Bank Overdraft

• Cash

The preparation of trial balance helps in

• Judging the financial position

• Locating all types of errors

• Preparation of final account

• None of these