Trial Balance is prepared on a particular date, therefore the words ____ are used
As at .....
As on.....
None of these
All of these
Finally preparation of trial balance is _________.
Compulsory
Not compulsory
Both of these
Trial Balance classifies accounts into two section as _________ and ________
Expenses and Losses
Incomes and gain
Accounts having debit balance and accounts having credit balance
If a mistake is committed unintentionally or innocently due to ignorance of accounting principles or due to earliness of an accountant such mistake are called ________
Fraud
Error
___________ forms a connecting link between the ledger account and the final account.
Journal
Ledger
Trial balance
Balance sheet
When two mistakes will nullify the effect of each other, such error are termed as _________.
Errors of posting
Errors of duplication
Compensating error
Errors of principle
Which of the following is not an error of commission.
Over drafting of sales book
Credit sales to Ramesh Rs.5,000 credited to his account
Wrong balancing of machinery account
Cash sales not recorded in cash book
If errors are not located before the preparation of trial balance in such a case ______ are not required
Rectifying entries
Adjusting entries
Opening entries
closing entries
Errors where transactions are totally omitted to be recorded in the journal or subsidiary book and which do not affect the agreement of trial balance is called ________.
Errors of omission
Errors of commission
Eerrors of principles
Errors of duplications
Under ______ method, the debit and credit total of each account are shown in two respective amount column.
Gross Trial Balance
Total amount
Both a and b
