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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the primary purpose of a trial balance?
💡 Hint: Think about why we balance accounts.
Question 2
Easy
Name two components listed in a trial balance.
💡 Hint: What do we look for in our accounts?
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is a trial balance?
- A statement of all transactions
- A balance sheet
- A statement that lists ledger balances
💡 Hint: Think about what it summarizes.
Question 2
True or False: The trial balance ensures that total debits equal total credits.
- True
- False
💡 Hint: What is the key function of a trial balance?
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company has the following account balances: Cash A/c $7,500; Accounts Receivable $4,500; Accounts Payable $3,000; Owner's Capital $9,000. Create the trial balance and state if it balances.
💡 Hint: Add carefully and ensure all accounts are placed correctly.
Question 2
Analyze why the following trial balance does not match: Cash A/c $10,000, Sales A/c $15,000 (credit), Purchases A/c $5,000, Capital A/c $10,000. What could be wrong?
💡 Hint: Check each account's placement and confirm totals are truly accurate.
Challenge and get performance evaluation