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26. Which of the following statements states the meaning of Trial Balance?
Lists the balances of the ledger accounts of asset accounts and liability accounts for a particular period
Lists the balances of all the ledger accounts for a particular period
It reveals how profitable a business has been
It balances even if the bookkeeper forgets to post a payment
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27. How would you classify the summary statement of the tabulation of balances of all the ledger accounts?
Reconciliation Statement
Trial Balance
Balance Sheet
Ledger
28. Recording, classifying and summarizing in a significant manner of financial transactions is known as –
Accounting
Analyzing
Managing
Dealing with finance
29. Which kind of transactions are recorded in the accounting
Transactions having a financial and physical character
Transactions having a financial character
Dealings having financial and social implications
Transactions having social and money matters
30. A firm obtains a loan of Rs. 37 lac from its bankers and purchases raw material stocks. The transactions would be recorded as a part of …
Analysis
Management information system
Cost accounting
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