The 'Trial Balance' includes: MCQ with Answer and Explanation

Question
The 'Trial Balance' includes:
A. Only nominal accounts
B. Balances of all ledger accounts
C. Only personal account balances
D. Only real and nominal accounts
Answer: Option B
Solution (By JKSSB Mock Tests)
It lists all ledger balances irrespective of account type.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1
PFMS is integrated with the RBI's Core Banking Solution known as:
A. E-Kuber
B. SWIFT
C. NEFT
D. UPI
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
PFMS pushes payment instructions directly to E-Kuber, the RBI's core banking system, for swift settlement of government payments.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Which of the following is NOT a component of the cost of production?
A. Selling and distribution overheads
B. Direct materials
C. Office and administration overheads
D. Factory overheads
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Cost of production includes prime cost, factory overheads, and office/admin overheads. Selling and distribution overheads are added to arrive at the Cost of Sales, not Cost of Production.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
At the time of retirement of a partner, goodwill appearing in the balance sheet is:
A. Retained as is
B. Credited to retiring partner only
C. Transferred to revaluation account
D. Written off among all partners in old ratio
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Existing goodwill in books is written off by debiting all partners' capital accounts in old ratio.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Explore All Accountancy and Book Keeping MCQs
Today's Top Topics
Accountancy and Book Keeping 1861 Statistics 1318
Explore Subjects
Accountancy and Statistics 3179 Economy GK 2220 English 15164 Computer 5279 Current Affairs 575
Practice Mix
Which of the following is an indirect tax in India?
The valve between the left atrium and left ventricle is the:
A person faces north. He turns 45° left, then 90° right, then 45° left. Which direction is he facing?
Under the Income Tax Act, the 'TDS' on the sale of an immovable property (other than agricultural land) by a resident is governed by which section, and what is the rate?
In 'Piecemeal Distribution' during dissolution, the first priority for payment of outside liabilities is: