If you find difficulty in answering these questions, read ‘Trial balance‘ chapter thoroughly from explanation section of the website.
1. What is a trial balance and why is it prepared?
2. When do businesses prepare a trial balance?
3. If an account has a debit balance, where will you place it in the trial balance?
4. If an account has a credit balance, where will you place it in the trial balance?
5. What does an agreed trial balance tells us?
6. What does a disagreed trial balance tells us?
7. Which accounts don't need to be transferred to the trail balance?
8. What are the two methods of preparing trial balance?