Page 2 - Home Assignment

5. When debit balance is equal to credit balance then the trial
balance means

A) Account balances are correct

B) Mathematically Capital + Liabilities=Assets

C) No mistake in recording transactions

D) No mistake in posting entries to ledger accounts

6. When is trial balance prepared?

A) At Any date of an accounting period

B) At the end of a year

C) Frequently during the year

D) At the end of a month

07. Which of the following account with normal balance is shown at
the debit side of a trial balance?

A) Creditors account

B) Unearned income account

C) Rent income account

D) Cash account

08. Which of the following accounts always shows a debit balance :

a) capital account

b) sales account

c) purchase return account

d) none of these

09.Assts have --- Balance .

a) Debit

b) Credit