Chapter Exam

Chapter 5: Trial Balance — Online MCQ Test

Q: In a Trial Balance, the balance of an asset account is normally shown in which column?

Answer: A. Debit column — Assets usually have debit balances, so they are entered in the debit column of the Trial Balance.

Q: If the debit and credit totals of a Trial Balance agree, it means that:

Answer: C. Arithmetic accuracy is proved to some extent — Agreement of Trial Balance shows only arithmetical accuracy to some extent. It does not guarantee that there are no errors in the books.

Q: A Trial Balance agrees even though a purchase of goods for Rs. 5,000 was recorded correctly in the purchases account but omitted from the supplier's account. What type of error is this?

Answer: C. Error of omission — If a transaction is omitted from one account while recorded in another, it is an error of omission. Such errors may still allow the Trial Balance to agree in some cases.

Q: The balance of Discount Allowed Account is usually shown in the Trial Balance in the:

Answer: B. Credit column — Discount allowed is a gain/nominal item for the business and is credited. Therefore, it appears in the credit column.

ACCOUNTANCY · CLASS 11th · Tamil Nadu State Board

Practice Chapter 5: Trial Balance with a free chapter-wise online MCQ test for Tamil Nadu State Board CLASS 11th ACCOUNTANCY. This chapter covers: This chapter covers trial balance preparation objectives and statement formats. Students learn arithmetic accuracy verification methods for ledger balances alongside locating error.... AI-generated questions from basic to board-exam level, with instant results and explanations.

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Chapter 5: Trial Balance — Important Questions & Answers (FAQ)

Frequently asked questions from Tamil Nadu State Board CLASS 11th ACCOUNTANCY — Chapter 5: Trial Balance, with answers and explanations. These are sample questions; the exam has its own separate question set.

What is the main purpose of preparing a Trial Balance?

A. To find the net profit of the business
B. To verify the arithmetical accuracy of ledger accounts ✓
C. To prepare the trading account directly
D. To calculate depreciation

Answer: B. To verify the arithmetical accuracy of ledger accounts
A Trial Balance is prepared to check whether the debit and credit totals of ledger accounts agree. It helps in verifying arithmetical accuracy.

In a Trial Balance, the balance of an asset account is normally shown in which column?

A. Debit column ✓
B. Credit column
C. Both debit and credit columns
D. Not shown in the Trial Balance

Answer: A. Debit column
Assets usually have debit balances, so they are entered in the debit column of the Trial Balance.

If the debit and credit totals of a Trial Balance agree, it means that:

A. All errors are absent in the books
B. The accounts are definitely correct in all respects
C. Arithmetic accuracy is proved to some extent ✓
D. There are no omissions in posting

Answer: C. Arithmetic accuracy is proved to some extent
Agreement of Trial Balance shows only arithmetical accuracy to some extent. It does not guarantee that there are no errors in the books.

A Trial Balance agrees even though a purchase of goods for Rs. 5,000 was recorded correctly in the purchases account but omitted from the supplier's account. What type of error is this?

A. Compensating error
B. Error of commission
C. Error of omission ✓
D. Error of principle

Answer: C. Error of omission
If a transaction is omitted from one account while recorded in another, it is an error of omission. Such errors may still allow the Trial Balance to agree in some cases.

The balance of Discount Allowed Account is usually shown in the Trial Balance in the: