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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a Trial Balance?
💡 Hint: Think about its purpose in verifying accuracy.
Question 2
Easy
What types of accounts are included in a Trial Balance?
💡 Hint: Consider what you record in the ledger.
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 primary purpose of a Trial Balance?
- To summarize financial performance
- To ensure debits equal credits
- To record transactions
💡 Hint: Consider its role in verifying mathematical correctness.
Question 2
True or False: A Trial Balance can catch all types of accounting errors.
- True
- False
💡 Hint: Reflect on what types of errors you learned about that it doesn't catch.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
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!
Question 2
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?
Challenge and get performance evaluation