1.In Trail balance, debit side should be ____ to credit side.
Equal
Less than
Greater than
2.Trial balance is prepared by:
Accountant
Auditor
Sales Manager
3.The objective to prepare trial balance is to check accuracy of:
Balance sheet
Profit & loss account
Ledger accounts
Cash flow statement
4.Accountant has omitted a transaction altogether in an accounting software. It will affect the trail balance in the following manner:
Increase in Debit side
Decrease in credit side
Imbalance in trial balance
No effect
5.Trial balance is usually prepared at the end of:
A Week
A year
A month
An accounting period
6.Cash and bank balances normally appeared on which side of the trial balance:
Credit side
Debit side
Do not appear on either side
7.When cash balance appears on the credit side of the trial balance, it is a
Overdraft
Assets
Capital
8.Which of the following accounts appear on the credit side of the trial balance:
Cash
Purchases
Sales
Accounts payable
9.Which of the following accounts appear on the debit side of the trial balance:
Accounts payable
Accounts receivable
Bad debt expense
Prepaid insurance
10.Unearned income is shown at which side of the trial balance?
Debit
Credit