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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define Trial Balance in your own words.
💡 Hint: Think about what it is used for.
Question 2
Easy
What are the two main columns in a trial balance?
💡 Hint: Consider what accounts we are analyzing.
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 the main purpose of a trial balance?
- To calculate profit
- To ensure debits equal credits
- To record transactions
💡 Hint: Think about its role in the accounting process.
Question 2
True or False: A trial balance can help detect errors in bookkeeping.
- True
- False
💡 Hint: Consider what happens when numbers do not match.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Imagine you have multiple accounts: Cash A/c (7,000), Inventory A/c (5,000), and Payables A/c (3,000 credit). If your trial balance shows a net debit of 7,000 and no discrepancies, identify if there is an error.
💡 Hint: Evaluate if all credits have been included in the trial balance.
Question 2
You prepared a trial balance, and your Credit total is 10,000, but your debits total only 9,000. What steps would you take to investigate this difference?
💡 Hint: Consider the common types of errors that could lead to this discrepancy.
Challenge and get performance evaluation