Which of the following statements is correct about Trial Balance??

Accounting Mcqs
BILAL KHATTAK0

A. The Trial Balance is prepared after preparing the Profit and Loss Account
B. The Trial Balance shows only balances of Assets and Liabilities
C. The Trial Balance shows only nominal account balances 
D. The Trial Balance has no statutory importance from the point of view of law 

Related Mcqs:

  1. Debit balance = Credit balance in a trial balance indicates that:?
  2. Trial balance is prepared to check accuracy of_______________??
  3. Depreciation Account appearing in the Trial Balance is shown in:?
  4. Generally the term fund is used to mean the difference between??
  5. Which of the following is true about a trial balance??
  6. Which of the following is not a financial statement??
  7. A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.?
  8. Closing stock appearing in the Trial Balance is shown in:?
  9. Which of the following account with normal balance is shown at the debit side of a trial balance??
  10. Which of the following is known as the base for preparing trial balance??

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