Trial Balance: Fill In the Blanks

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 12, 2023

1. A statement prepared to check the arithmetical accuracy of ledger is known as a .

2. Carriage inwards is entered into the column of the trial balance.

3. The debit and credit columns of the trial balance should always be .

4. A trial balance is prepared using the information from a companys .

5. Ledger accounts with credit balances are placed in the column of the trial balance.

6. The is the most popular approach used to prepare a trial balance.

7. Returns outwards are placed in the credit column of the trial balance because it has a balance.

8. An adjusted trial balance is used to prepare .

9. A trial balance prepared without considering the effect of adjusting entries is known as an .

10. A trial balance prepared after considering the effect of adjusting entries is known as an .

Trial Balance: Fill In the Blanks FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.