Practice - Preparing Trial Balance
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Practice Questions
Test your understanding with targeted questions
Define a trial balance.
💡 Hint: Consider its purpose in accounting.
What are the two main columns in a trial balance?
💡 Hint: Think about how transactions are recorded.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the purpose of a trial balance?
💡 Hint: Remember what you learned about its function.
True or False: A trial balance can include account names, debits, and credits.
💡 Hint: Think about the structure of the trial balance.
1 more question available
Challenge Problems
Push your limits with advanced challenges
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.
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?
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