1 Is it true that the trial balance totals should agree A B

1. Is it true that the trial balance totals should agree? A. B. Yes, always C. No, there are sometimes good reasons why they differ Yes, except where the trial balance is extracted at the year end No, because it is not a statement of financial position D. 2. \"Posting\" the transactions in bookkeeping means) A. B. Entering items in a cash book C. D. Making the first entry of a double entry transaction Making the second entry of a double entry transaction Something other than the above

Solution

The trial balance should always match, because there is always a DR entry for every CR entry.

So while transferring the balance from ledger to trial balance, the DR total should match CR total, if they are not matching there is an error. The correct answer is B.

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The correct answer is A.

In book keeping the transaction are recorded first time.

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Hope that helps.

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