MCQs of Trial Balance Class 11 with Answers
MCQs of Trial Balance Class 11 with Answers for CBSE, ISC and State Boards
Trial Balance is
(a) a statement
(b) a summary
(c) an account
(d) None of these
Ans – (a)
Trial Balance is:
(a) A Personal A/c
(b) A Real A/c
(c) A Nominal A/c
(d) Not an A/c
Ans – (d)
If goods for ₹ 10,000 have been taken by the proprietor for personal use and it has not been recorded in the books, it will be called:
(a) An error of Principle
(b) An error of Commission
(c) An error of Omission
(d) A Compensating error
Ans – (c)
If goods sold for ₹ 2,500 to Gaurav is recorded as ₹ 5,200 in sales book, it will be called:
(a) An error of Commission
(b) An error of Omission
(c) An error of Principle
(d) A compensating error
Ans – (a)
A Trial Balance is prepared on the basis of:
(a) Subsidiary books
(b) Ledger
(c) Subsidiary books and ledger
(d) Cash book
Ans – (b)
Identify the purpose for preparing Trial Balance:
(a) To describe accounts in brief
(b) To check arithmetical accuracy of accounts
(c) To facilitate preparation of Final Accounts
(d) All of the above
Ans – (d)
Which of the following errors is disclosed by the trial balance:
(a) Error of Principle
(b) Error of Omission
(c) Error f balancing and carry forward
(d) Compensating error
Ans – (c)
Which of the following errors is not disclosed by the Trial Balance:
(a) Error of Omission
(b) Error of Principle
(c) Compensating Error
(d) All of the above
Ans – (d)
Objective of preparing Trial Balance is:
(a) To ascertain the profit or loss of business
(b) To ascertain the financial position of business
(c) To ascertain the accuracy of account
(d) To ascertain the arithmetical accuracy of accounts
Ans – (d)
Trial Balance is:
(a) Real Account
(b) Nominal Account
(c) List of Balances
(d) None of the above
Ans – (c)
Which of the following errors will affect the agreement of trial balance:
(a) Omission of recording in original records
(b) Error of posting in wrong account
(c) Error of principle
(d) Posting to the wrong side
Ans – (d)
Which of the following errors is not disclosed by a trial balance:
(a) Error of casting of the book of an original entry
(b) Posting of wrong amount in a ledger account
(c) Error of omitting to record a transaction in book of original entry
(d) All of the above
Ans – (c)
Balance of an Asset Account is
(a) Credit
(b) Debit
(c) Debit or Credit
(d) None of these
Ans – (b)
Preparation of Trial Balance is _ .
(a) Voluntary
(b) Compulsory
(c) Neither voluntary nor compulsory
(d) Both A and B above
Ans – (a)
Name of method of preparing Trial Balance is:
(a) Balance method
(b) Total amount method
(c) Total-cum-balance method
(d) All of the above
Ans – (d)
Which of the following errors shall not prevent the agreement of a trial balance:
(a) Goods sold to X for ₹ 1,000 was recorded as ₹ 10,000 in sales book
(b) The total of sales book was overcast by ₹ 1,000
(c) ₹ 8,000 were posted in Y’s A/c instead of ₹ 800
(d) Cash balance was not included in the trial balance
Ans – (a)
Which of the following is not an error of principle:
(a) Purchase of furniture debited to purchases account
(b) Repair expenses on overhauling of second hand machinery purchased debited to repairs account
(c) ₹ 2,000 received from Khushi were credited to Sukhi’s account
(d) Sale of old car credited to Sales account
Ans (c)
Preparation of a Trial Balance is
(a) Compulsory
(b) optional
(c) compulsory or optional
(d) None of these
Ans – (b)
A Trial Balance shows
(a) only credit balances
(b) only debit balances
(c) both debit and credit balances
(d) either debit or credit balances
Ans – (c)
Most commonly used method of preparing Trial Balance is:
(a) Balance Method
(b) Total amount method
(c) Total-cum-balance method
(d) All of the above
Ans – (a)
Which of the following errors is revealed by the Trial Balance:
(a) Wrong amount entered into the book of original entry
(b) Wrong amount posted in the ledger Account
(c) Complete omission of an entry from the books of original entry
(d) When accounting principle is violated while recording a transaction in the books of Account
Ans – (b)
Which item shows a debit balance in the Trial Balance?
(a) Purchase Return
(b) Salary Outstanding
(c) Sales
(d) Prepaid Expense
Ans – (d)
Trial Balance does not include:
(a) Capital
(b) Closing Stock
(c) Drawings
(d) Opening Stock
Ans – (b)
A Trial Balance is prepared:
(a) After preparation of financial statements
(b) After recording transactions in subsidiary books
(c) After posting to ledger is complete
(d) After posting to ledger is complete and accounts have been balanced
Ans – (d)
When the Trial Balance does not agree, the difference is transferred to:
(a) Capital A/c
(b) Drawings A/c
(c) Suspense A/c
(d) Profit & Loss A/c
Ans – (c)
Which of the following is not an error of commission:
(a) A sale of ₹ 560 not recorded in Book at all.
(b) Rent paid to landlord was posted to Landlord’s Account
(c) A purchase of ₹ 840 was wrongly posted to sales Account
(d) Instead of crediting Shyam credited the other creditor Sham
Ans – (a)
Which of the following errors will not affect the trial balance:
(a) Wrong balancing of an account
(b) Wrong totalling of an account
(c) Omission of an account from the trial balance
(d) Writing an amount in the wrong account but on the correct side
Ans – (d)
Out of the following, balance of which account is shown on the credit side of Trial Balance:
(a) Purchases A/c
(b) Discount Received A/c
(c) Sales Return A/c
(d) Bills Receivables A/c
Ans – (b)
When a transaction is completely omitted to be recorded in the books, it is called:
(a) Error of principle
(b) Error of Omission
(c) Compensating Error
(d) Error of Posting
Ans – (b)
Error which nullify the effects of each other, are called:
(a) Error of Principle
(b) Error of Omission
(c) Error of Posting
(d) Compensating Error
Ans – (d)
When the rules of double entry are not strictly followed, the errors caused are called:
(a0 Errors of Principle
(b) Compensating Errors
(c) Errors of Commission
(d) Errors of Omission
Ans – (a)
₹ 10,000 received from Apoorva is credited in the account of Prachi. It is an error of
(a) Principle
(b) Omission
(c) Commission
(d) Compensatory
Ans – (c)
Which of the following is the error of principle?
(a) The purchase book was overcasted by ₹ 500
(b) Credit sale to Arun ₹ 700 recorded as purchase from Arun
(c) Goods returned to Charu ₹ 4,000, posted to Chinoo’s A/c
(d) Wages paid for installation of machinery debited to Wages A/c
Ans – (d)
Assets are shown in the Trial Balance on the:
(a) Debit side
(b) Credit side
(c) Neither debit nor credit
(d) Outside the Trial Balance
Ans – (a
Which one of the following accounts normally has a debit balance?
(a) Loan
(b) Bank Overdraft
(c) Sales
(d) Purchases
Ans – (d)
Trial balance contains balances of:
(a) Only personal and real accounts
(b) Only personal and nominal accounts
(c) Only real and nominal accounts
(d) All accounts
Ans – (d)
A machine is purchased for ₹ 10,000 which was wrongly recorded in purchase account. Due to this error _ .
(a) Trial balance will show difference of ₹ 10,000
(b) Trial balance will not show any difference
(c) Trial balance will show the difference of ₹ 20,000
(d) Trial balance will show a difference of ₹ 5,000
Ans – (b)
Trial Balance is prepared:
(a) Before Journal
(b) After Journal
(c) Before Ledger
(d) After Ledger
Ans – (d)
Which one of the following accounts normally has a credit balance?
(a) Drawings
(b) Capital
(c) Cash
(d) Premises
Ans – (b)
Trial Balance is prepared
(a) after recording transactions in subsidiary books
(b) after posting to ledger accounts is complete
(c) after preparation of financial statements
(d) after posting to ledger accounts is complete and accounts have been balanced
Ans – (d)
Which of the following balance of account is shown on the credit side of Trial Balance:
(a) sales A/c
(b) Purchase Return A/c
(c) Capital A/c
(d) All of the above
Ans – (d)
Out of the following, balance of which account is shown on the debit side of Trial Balance:
(a) Sales Account
(b) Purchase Return A/c
(c) Sales Return A/c
(d) Capital A/c
Ans – (c)
Identify the item which will not be shown in the Trial Balance before passing adjusting or closing entries.
(a) Opening Stock
(b) Purchases
(c) Closing Stock
(d) Wages
Ans – (c)
A tallied Trial Balance will not reveal
(a) Error of Principle
(b) Compensating Error
(c) Error of Complete Omission
(d) All of these
Ans – (d)
Liabilities are shown in the Trial Balance on the:
(a) Debit side
(b) Credit side
(c) Neither debit nor credit
(d) Outside the Trial Balance
Ans – (b)
Which of the following items is shown on the Debit side of Trial Balance:
(a) Commission Received A/c
(b) Bank Overdraft A/c
(c) Bills Payable A/c
(d) Bills Receivable A/c
Ans – (d)
If wages paid for installation of new machinery is debited to Wages Account, it will be called:
9a) An error of omission
(b) An error of Commission
(c) An error of Principle
(d) A Compensating error
Ans – (c)
If ₹ 2,000 received from Anil has been credited to Sunil, it will be called:
(a) An error of omission
(b) An error of Commission
(c) A compensating error
(d) A error of principle
Ans – (b)
If X has been debited by ₹ 50 instead of ₹ 500 and Y has been debited by ₹ 500 instead of ₹ 50, it will be called:
(a) Error of Principle
(b) Compensating Error
(c) Error of Omission
(d) Error of Commission
Ans – (b)
