Trial Balance Quiz

Identify the purpose for preparing Trial Balance:

• (a) To describe accounts in brief.

• (b) To check arithmetical accuracy of accounts.

• (c) To facilitate preparation of Final Accounts.

• (d) All of the above

The difference in total of Trial Balance is due to:

• Wrong Placement of Sales Account

• Wrong placement of Salaries Account

• Wrong placement of Miscellaneous Expenses Account

• Wrong placement of all accounts

Which one of the following accounts normally has a debit balance?

• a) Loan

• b) Bank Overdraft

• (c) Sales

• (d) Purchases.

Which of the following will have credit balance?

• (b) Accounts Payable

• (c) Inventory

• (d) Sales Return

• (a) Cash

Which one of the following accounts normally has a credit balance?

• (a) Drawings

• (b) Cash

• (c) Capital

• (d) Premises