Advantages of Trial Balance
Trending Questions
What are the rules of trial balance?
What are the 3 types of accounting?
What is the difference between accounts, accounting and accountancy?
Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money, transactions and event which are, in part at least, of a financial character and interpreting the results thereof. This definition is given by ____________
The Institute of Chartered Accountant of India (ICAI)
The Institute of Chartered Accountant of England
American Institute of Certified Public Accountants
The Institute of Chartered Accontant of Pakistan
The realisation concept determines when goods sent on credit to customers are to be included in the sales figure, for the purpose of computing the profit or loss for the accounting period. Which of the following tends to be used in practice to determine when to include a transaction in the sales figure for the period? When the goods have been
(a) despatched (b) invoiced
(c) delivered (d) paid for
Give reasons for your answer.
What are the features of incomplete records?
Discuss the various branches of accounting.
Explain the accounting process with the help of a diagram.
What is the first step of accounting process ?
Which part of the computer is used for calculating and comparing?
What is purchase book and sales book?
- All credit purchases of goods
- None of the above
- All cash purchases
- Purchase of Goods
State the steps involved in the process of accounting.
What are the 8 branches of accounting?
Sales book records
Cash
Credit
Both A & B
None of the above
What are the two major types of books of accounts?
Write any three limitations of accounting.
Cash sales are entered in sales journal. True or False
- True
- False
Write any three advantages of Accounting.
State whether the following statement is True or False. A Trial balance is a list of ledger balances.
What is a sales return book?
Which transactions are recorded in the purchase return book?
What are the steps taken by an accountant to locate the errors in the trial balance?
Discuss the advantages and disadvantages of the accrual basis of accounting.
What are the types of financial accounting?
Explain briefly any six advantages of accounting.
Enumerate the main objectives of accounting.
What is a ledger? What are the types of ledger accounts?
What Are the 3 Major Areas of Accounting?
