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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define a trial balance.
💡 Hint: Consider its purpose in accounting.
Question 2
Easy
What are the two main columns in a trial balance?
💡 Hint: Think about how transactions are recorded.
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 purpose of a trial balance?
- Verify financial statements
- Check equal debits and credits
- Summarize accounting data
💡 Hint: Remember what you learned about its function.
Question 2
True or False: A trial balance can include account names, debits, and credits.
- True
- False
💡 Hint: Think about the structure of the trial balance.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company has Cash ₹12,000, Accounts Receivable ₹5,000, Accounts Payable ₹2,000, and Sales ₹20,000. Prepare a trial balance and identify discrepancies if any.
💡 Hint: Ensure all entries are correctly accounted for.
Question 2
If an error occurred in posting the Sales amount, leading to a mismatch in the trial balance, how would you trace back to the error?
💡 Hint: What could be the source of original entries?
Challenge and get performance evaluation