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F Preparing a trial balance

Written by Fahad Mirza (ACCA)

اے سی سی اے · مالیاتی اکاؤنٹنگ · 6 سوالات

نام: ____________________   تاریخ: ____________

  1. Which error would NOT be revealed by a trial balance?

    • A A one-sided entry
    • B The credit side added up wrongly
    • C A debit posted with a different amount from the credit
    • D A transaction omitted completely from the records

  2. An expense of $800 for rent is debited to the insurance account instead of the rent account. What kind of error is this?

    • A An error of omission
    • B An error of commission
    • C A compensating error
    • D An error of principle

  3. What is the correcting journal for rent of $800 wrongly debited to insurance?

    • A Debit suspense $800, credit insurance $800
    • B Debit rent $800, credit insurance $800
    • C Debit insurance $800, credit rent $800
    • D Debit rent $800, credit bank $800

  4. Equipment costing $5,000 is wrongly recorded as repairs expense. Ignoring depreciation, what is the effect on profit?

    • A Profit is overstated by $5,000
    • B Profit is understated by $10,000
    • C Profit is understated by $5,000
    • D Profit is unaffected

  5. A trial balance's credit total is $450 higher than the debit total, and the error cannot be found. What is done?

    • A A suspense account is debited with $450
    • B A suspense account is credited with $450
    • C The difference is ignored
    • D Revenue is reduced by $450

  6. Which statement is a limitation of a trial balance?

    • A It can balance even though there are errors in the ledger
    • B It cannot be prepared if there are errors
    • C It proves that all transactions were recorded
    • D It shows the profit for the year

جوابی کلید

1. D, 2. B, 3. B, 4. C, 5. A, 6. A

  1. An omitted transaction has no debit and no credit, so the trial balance still balances.

  2. The entry is in the wrong account of the same type.

  3. Move the cost from insurance to rent.

  4. The expense was too high, and the asset was missing. Correcting it increases profit and assets.

  5. The debit side is short by $450, so a debit balance in suspense makes the totals agree.

  6. It only proves that total debits equal total credits.