A 'Trial Balance' is a: MCQ with Answer and Explanation

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A 'Trial Balance' is a:

A. Subsidiary book

B. Statement

C. Part of journal

D. Ledger account

Answer: Option B

Solution (By JKSSB Mock Tests)

Trial Balance is a statement listing all ledger balances to verify arithmetical accuracy.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

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In a computerized accounting system, a voucher is:

A. A screen to input transaction data

B. A printed report

C. A type of software

D. A physical paper document

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Correct Answer: Option A

Explanation:
In accounting software, voucher refers to the data entry form for recording transactions.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

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The 'National Pension System' (NPS) for government employees was made mandatory for those joining after:

A. 1 Jan 2010

B. 1 Jan 1991

C. 1 Jan 2015

D. 1 Jan 2004

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Correct Answer: Option D

Explanation:
NPS replaced the old defined benefit pension for central government employees joining on or after 1/1/2004.

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Question #3

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Government accounting in India primarily follows which system of accounting for its core budgets?

A. Accrual Basis

B. Target Costing

C. Cash Basis

D. Mercantile Basis

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Correct Answer: Option C

Explanation:
Historically, Indian government accounting is primarily cash-based, tracking the actual flow of funds into and out of government treasuries.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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