Trial Balance is commonly prepared
A. Frequently during the year
B. At the end of an accounting period
C. At the end of a month
D. At the end of a year
Answer: Option B
Solution(By Examveda Team)
Trial Balance is commonly prepared at the end of an accounting period. It is usually prepared at the end of an accounting period to assist in the drafting of financial statements.This Question Belongs to Commerce >> Accounting
Join The Discussion
Comments ( 2 )
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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 company's bookkeeping system are mathematically correct.
no fix time for preparing trail balance