Answer-Find the incorrect statement:

Trial Balance lists the balance and the title of account in ledger. A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns. A company prepares a trial balance periodically, usually at the end of every reporting period. The general purpose of producing a trial balance is to ensure the entries in a companys bookkeeping system are mathematically correct.

Question

Find the incorrect statement:

A The equality of debit and credit of the Trial balance does not mean that the individual accounts are also accurate.

B Journal lists the balance and the title of account in ledger.

C Cash account is Real account

D Goodwill account is an ‘intangible asset’

Practice Next

More Accounts Questions

Which Indian state has the longest coastline?
In the North Indian Ocean, there is a complete reversal of the direction of ocean currents between summer and winter. Which of the following factors is ...
Which of the following statements is/are correct about the retreating monsoon season?

1. Clear skies

2. Shift ing of monsoon trough s...
Which of the following Emperor died by falling from the stairs?
Which lake in India is known as the largest lagoon?
Consider the following peaks:

1. Saramati

2. Nokrek

3. Makalu

4. Annapurna

5. Kamet

6. Nanda Devi...
The white salt which covers the land in some areas during dry season is
Consider the following statements:

1. In India, the Himalayas are spread over five states only.

2. Western Ghats are spread over five stat...
India shares its longest international border with ________.
Who is the author of the book titled “The little book of encouragement”?

Find the incorrect statement:

Solution