Which of the following errors affects the agreement of a Trial Balance?

✅ A. Asset side

Option A : Asset side Option B : Liability side Option C : Netted from Capital Option D : Profit & Loss A/c Correct Answer : Asset side Read more

✅ B. A Liability

Option A : An Asset in the Balance Sheet Option B : A Liability Option C : By adjusting it in the P & L A/c Option D : Both Correct Answer : Both and above Read more

✅ A. Sales “ Cost of goods sold

Option A : Sales “ Cost of goods sold Option B : Sales “ Closing Stock + Purchases Option C : Opening Stock + Purchases “ Closing Stock Option D : None of the above Correct Answer : Sales “ Cost of goods sold Read more

✅ A. Profit and Loss A/c

Option A : Profit and Loss A/c Option B : Trading A/c Option C : Deducted from the concerned assets A/c Option D : Shown on the liability side Correct Answer : Profit and Loss A/c Read more

✅ C. 24

Option A : 37.5 Option B : 38.25 Option C : 24 Option D : 35 Correct Answer : 24 Read more

✅ C. Accounts Receivable

Option A : Trade mark Option B : Franchise Option C : Accounts Receivable Option D : Secret Profit Read More Details about this Mcq Correct Answer : Accounts Receivable Read more

✅ D. Financial position as on a particular date

Option A : Results of operations for a particular period Option B : Financial position during a particular period Option C : Profit earning capacity for a particular period Option D : Financial position as on a particular date Correct Answer : Financial position as on a particular date Read more

✅ C. The total of the sales journal has not been posted to the Sales Account

Option A : Sale of ` 100 was recorded in the Purchases Journal Option B : Wages paid to Mohan have been debited to his account Option C : The total of the sales journal has not been posted to the Sales Account Option D : Repairs to buildings have been debited to buildings account Correct Answer : The total… Read more