Practice - Trial Balance
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Practice Questions
Test your understanding with targeted questions
What is a Trial Balance?
💡 Hint: Think about its purpose in verifying accuracy.
What types of accounts are included in a Trial Balance?
💡 Hint: Consider what you record in the ledger.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the primary purpose of a Trial Balance?
💡 Hint: Consider its role in verifying mathematical correctness.
True or False: A Trial Balance can catch all types of accounting errors.
💡 Hint: Reflect on what types of errors you learned about that it doesn't catch.
1 more question available
Challenge Problems
Push your limits with advanced challenges
You're given the following account balances: Inventory A/c: ₹15,000 (Debit), Accounts Payable A/c: ₹10,000 (Credit), Account Receivable A/c: ₹5,000 (Debit). Prepare the Trial Balance and determine if it balances.
💡 Hint: Check each account and confirm the totals!
If the Trial Balance has a total of ₹30,000 for Debits and ₹25,000 for Credits, identify possible reasons before correcting the entries.
💡 Hint: What types of errors can lead to this mismatch?
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