Trial Balance a...

A ______ is a schedule or list of balances of both debit and credit extracted from various accounts.

At the end of the accounting period or at the end of each month, the balances of the ledger accounts are extracted and is prepared to test as to whether the total debits are equal to total credits.

Which of the following is/are method for preparation of trial balance?

If the trial balance do not agree after transferring the balance of all ledger accounts including cash and bank balance and also errors are not located timely, then the trial balance is tallied by transferring the difference of debit and credit side to an account knows as_____________.

Which of the following statement is correct?

Difference of totals of both debit and credit side of the trial balance is transferred to _________.

Which of the following statement contains all the types of account i.e., personal, real & nominal account?

___________ is a statement of debit & credit balances, while __________ is a statement of assets and liabilities.

If the rate of gross profit increases in the current financial year, the same may happen due to which of the following reason?

Bank overdraft is shown on the _______ side of trial balance.