Accounting Mcqs

Page No. 68

If debit balances = credit balances, trial balance only shows or check the ____________ and it does not indicate that no errors were made during recording and posting.


aArithmetic accuracy

✓


bErrors of commission

✖


cOmissions of economic events

✖


dUnderstatements of balances

✖


View Answer Arithmetic accuracy

Which of the following will affect the agreement of a trial balance?


aComplete omission of a transaction

✖


bPartial omission of a transaction

✓


cError of principle

✖


dCompensating errors

✖



Trial balance is commonly prepared?


aFrequently during the year

✖


bAt the end of an accounting period

✓


cAt the end of a month

✖


dAt the end of a year

✖



Debit balance = Credit balance in a trial balance indicates that:


aNo error in recording transactions

✖


bNo error in posting entries to ledger accounts

✖


cAccount balances are correct

✖


dMathematically Capital+Liabilities=Assets

✓



Which of the following is true about a trial balance?


aIt lists down the balances of accounts

✓


bIt lists down the balances of a balance sheet

✖


cIt is a kind of financial statement

✖


dIt is not a part of accounting cycle

✖



________ is the common base for preparing a trial balance?


aLedger accounts

✓


bGeneral Journal

✖


cSpecialized journals

✖


dBalance sheet

✖


View Answer Ledger accounts

If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?


aYes

✖


bNo

✓


cTransactions can’t be omitted

✖


dnone of these

✖


View Answer No

Trial balance is prepared to check accuracy of_______________?


aLedger accounts balances

✓


bBalance sheet balances

✖


cIncome statement balances

✖


dCash flow statement balances

✖



A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?


aError of omission

✖


bError of commission

✓


cCompensating error

✖


dError of principle

✖


View Answer Error of commission

The systems of accounting are _____________?


aTwo

✓


bThree

✖


cFive

✖


dSix

✖


View Answer Two

Goto Page No.

Page 68 of 71

Alphabetical MCQs Categories
—

Here below You find all kind of categories of MCQs in alphabetical order.


"Comprehensive Collection of MCQs: Alphabetically Organized by Subject"
—

"Discover an extensive collection of multiple-choice questions (MCQs) neatly categorized by subject from A to Z. This resource is designed for anyone eager to explore various topics in a straightforward and organized manner. Whether you're a student preparing for exams, an educator seeking supplementary materials, or simply curious about different subjects, this compilation offers a convenient way to learn and assess your knowledge. With questions arranged alphabetically, navigation is effortless, allowing you to delve into subjects of interest at your own pace. Engage, learn, and expand your understanding with this accessible and comprehensive repository of MCQs!"


BolPakistan

bolpakistan.com.pk includes Job Mcqs and Pak Mcqs is the Top Largest Mcqs Forum in World, in which you can read Mcqs of All Subjects, PPSC test preparation, FPSC, NTS and PPSC PAST PAPERS, PPSC PAST MCQS. A Collection of Repeated MCQs for JOBs seekers.

Copyright © 2024, Designed & Developed by BolPakistan