Balance appearing on the credit side of the trial balance is _________.

a gain

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a revenue

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a liability

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all of these

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Solution

The correct option is D all of these
There are certain rules for the different type of account i.e personal a/c, real a/c and nominal a/c. On the basis of these rules, all expenses, losses and assets are debited and all revenue, gains and liabilities are to be credited.

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State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

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R s .500

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Q. Closing stock A/c appearing in the trial balance will __________.

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Balance appearing on the credit side of the trial balance is _________.

The correct option is D all of theseThere are certain rules for the different type of account i.e personal a/c, real a/c and nominal a/c. On the basis of these rules, all expenses, losses and assets are debited and all revenue, gains and liabilities are to be credited.

The correct option is D all of these
There are certain rules for the different type of account i.e personal a/c, real a/c and nominal a/c. On the basis of these rules, all expenses, losses and assets are debited and all revenue, gains and liabilities are to be credited.