A balance sheet is a?

A balance sheet is a?

A. form of trading account B. proof of arithmetical accuracy of postings C. statement showing profits at a certain date D. statement showing assets and liabilities at a certain date Correct Answer: Option D – statement showing assets and liabilities at a certain...
A balance sheet is a?

A trial Balance is the?

A. narration of all transactions and accounts B. debit balances of the accounts C. list of all balances extracted from the ledger D. list of all credit balances in the ledger Correct Answer: Option C – list of all balances extracted from the...

A suspense Account is used to?

A. record difference in the books until errors are located B. accumulate debit and credit balances C. accommodate debit balances of profit statements D. record accounts of the general ledger Correct Answer: Option A – record difference in the books until errors...

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