User Account

All Pages

What is the purpose of taking off a trial balance

Assignment Help Financial Accounting
Reference no: EM132742348

Problem 1. What is the purpose of taking off a trial balance?

a) It is a way to check the accuracy of a ledger.

b) It is a means of listing the accounts with the largest balances.

c) It shows the accountant where a mistake has been made in the accounting process.

d) It is done when there is no time for an Actual Balance Sheet

Problem 2. What is another term for net income?

a) net profit

b) net surplus

c) net loss

d) net worth

Reference no: EM132742348

Questions Cloud

Determine an appropriate account to credit : A large account previously written off in a prior year was unexpectedly collected in the current year. As a result, the current credit balance of Allowance.
Which is not a date for the heading of an income statement : Which is not a date for the heading of an Income Statement? for the month ending December 31st 2002./ for the period ending March 31st 2002.
Which is not considered to be a revenue account : Which is not considered to be a revenue account? What is the best meaning for a chart of accounts? a list of the ledger accounts and their numbers arranged
Find the weight of stock a in the minimum-variance : There are two stocks, A and B. Stock A has an expected return of 7.5% per year with a standard deviation of 11.0%. Stock B has an expected return
What is the purpose of taking off a trial balance : What is the purpose of taking off a trial balance? It shows the accountant where a mistake has been made in the accounting process.
Compute the selling prices of products Alpha and Beta : Compute the selling prices of products Alpha and Beta such that the contribution per direct labour hour is the same for both the products
What was the capital gain from price appreciation on stock : An investor purchases one share of stock for $50. What was the capital gain from price appreciation on the stock, in percentage terms?
What is the expected value of increasing production : Construct a decision tree for SJB. On the basis of the EV, what should SJB do? What is the expected value of increasing production?
Long-term bond to duration immunize portfolio : You have an obligation with a Present Value of $128000.00 and a duration of 7.50 years.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd