Trial Balance
Authored by Chang Sze May
Business
1st Grade
Used 15+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Trial Balance?
A list of all the journal entries
A list of all the ledger accounts and their ending balances
2.
DRAG AND DROP QUESTION
1 min • 1 pt
A trial balance is prepared to facilitate the preparation of the (a) and to ensure the (b) accuracy in recording.
3.
MATCH QUESTION
1 min • 1 pt
Match the following.
Income
Discount received
Capital
Mortgage loan
Liabilities
Discount allowed
Assets
Fixtures and fittings
Expense
Owner's contribution
4.
MATH RESPONSE QUESTION
2 mins • 1 pt
Calculate the total debit balance in the trial balance created based on the following accounts:
Capital= $1 000
Cash at bank= $400
Inventory= $2 520
Sales revenue= $200
Cost of sales= $80
Trade payables= $2 000
Rental expense= $1 000
Mathematical Equivalence
ON
5.
MATH RESPONSE QUESTION
2 mins • 1 pt
Calculate the total credit balance in the trial balance created based on the following accounts:
Capital= $1 000
Cash at bank= $400
Inventory= $2 520
Sales revenue= $200
Cost of sales= $80
Trade payables= $2 000
Rental expense= $1 000
Mathematical Equivalence
ON
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When is a Trial Balance balanced?
When more than one account is affected.
When there are debit and credit balances.
When total debit equals to total credit.
7.
DROPDOWN QUESTION
1 min • 1 pt
The double entry recording rules say that at least (a) accounts will be affected for every transaction in the business.
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