Which of the following will affect the agreement of a trial balance
1.________ is the common base for preparing a trial balance
A) Ledger accounts
B) General Journal
C) Specialized journals
D) Balance sheet
2.Which of the following is true about a trial balance?
A)It lists down the balances of accounts
B)It lists down the balances of a balance sheet
C)It is a kind of financial statement
D)It is not a part of accounting cycle
3. If Debit balance = Credit balance in a trial balance, it indicates that
A)No error in recording transactions
B)No error in posting entries to ledger accounts
C)Account balances are correct
D) Mathematically Capital+ Liabilities=Assets
4.Trial balance is commonly prepared
A) Frequently during the year
B) At the end of an accounting period
C) At the end of a month
D) At the end of a year
5.Which of the following will affect the agreement of a trial balance?
A) Complete omission of a transaction
B) Partial omission of a transaction
C) Error of principle
D) Compensating errors
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