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A quarter B half year C financial year
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Trial Balance must be prepared at the end of a financial year after accounts have been closed. But it can be prepared monthly or at any other time to have arithmetical check. The only condition is that the accounts must be balanced in order to draw a trial balance.
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A trial balance is generally prepared at the end of each _________.
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A trial balance is prepared to ________.
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A Trial balance may be prepared on any day, date.
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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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Prepare a Trial Balance from the following items: ₹ ₹ Capital 24,000 Building 12,000 Opening Stock 8,500 Returns Inward 1,900 Furniture 2,600 Returns Outward 350 Purchases 8,950 Trade Expenses 1,000 Cash 7,300 Discount Received 970 Carriage 300 Salary 3,000 Sales 22,500 Office Rent 2,270
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