Which of the following statements is true??

Accounting Mcqs
BILAL KHATTAK0

A. If a Trial Balance tallies, it always means that none of the transactions has been completely omitted
B. A Trial Balance will not tally if a transaction is omitted
C. A customer to whom goods have been sold on credit cannot avail himself of a cash discount 
D. A credit balance in the Pass Book indicates excess of deposits over withdrawals 

Related Mcqs:

  1. Which of the following statements is /are true??
  2. Which of the following statements is/are true ??
  3. Debit side of Bank Pass book corresponds to___________??
  4. Bank reconciliation is a statement prepared to reconcile__________??
  5. The accountant of Leo Ltd. recorded a payment by cheque to a creditor for supply of materials as 1,340.56. The bank recorded the cheque at its correct amount of 3,140.56. The Company has not passed any rectification entries and the error is not detected through the bank reconciliation. The impact of this error is?
  6. Favorable balance of cash book implies that?
  7. Which of these documents is not required for Bank Reconciliation??
  8. Which of the following statements is correct about Trial Balance??
  9. A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book?
  10. The Bank Reconciliation Statement is prepared??

Leave a Reply

Your email address will not be published. Required fields are marked *