Quiz on Financial Statements

The video tutorial introduces a reverse approach to preparing a trial balance from a financial statement. The instructor sets up an interactive exercise where students must quickly determine the correct entries for various financial items. The exercise is designed to challenge students' understanding and speed in financial accounting. The session concludes with a wrap-up and encouragement for learners.

How would you categorize 'postal and telephone expenses'?

What does 'long term loan' represent in a trial balance?