1/10
If a business has overdrawn its bank balance, then
its cash at bank account will show a debit balance.
its cash at bank account will show a credit balance.
the cash account debits will exceed the cash account credits.
it cannot be detected by observing the balance of the cash account.
2/10
Inventory $10,000Trade Accounts receivable $7,000
Trade Accounts payable $5,600
Rent payable $8,400
Capital $11,400
Drawings $1,400
Sales revenues $44,000
Cost of sales $35,000
$51,400
$69,400
$62,200
$70,200
3/10
The steps in preparing a trial balance include all of the following except
listing the account titles and their balances.
proving the equality of the two columns.
4/10
A trial balance may balance even when each of the following occurs except when
a transaction is not journalized.
a journal entry is posted twice.
incorrect accounts are used in journalizing.
only one entry is made
5/10
posting
Statement of financial performance.income statement
6/10
Customarily, a trial balance is prepared
at the end of each day.
after each journal entry is posted.
at the end of an accounting period.
only at the inception of the business.
7/10
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9/10
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