Accounting Mcqs — Test 2
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Question 1
Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?
Question 2
Cash brought by the owner to start business is called__________?
Question 3
If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?
Question 4
Which of the following is true about a trial balance?
Question 5
Debit balance = Credit balance in a trial balance indicates that:
Question 6
Trial balance is commonly prepared?
Question 7
Which of the following will affect the agreement of a trial balance?
Question 8
If debit balances = credit balances, trial balance only shows or check the ____________ and it does not indicate that no errors were made during recording and posting.
Question 9
Which of the following account with normal balance is shown at the debit side of a trial balance?
Question 10
Which of the following account with normal balance is shown at the credit side of a trial balance?