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CIMAPRA17-BA3-1 Exam - Topic 4 Question 95 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 95
Topic #: 4
[All CIMAPRA17-BA3-1 Questions]

A trial balance is extracted from the ledger accounts at the end of each accounting period.

Which of the following will a trial balance do?

Show Suggested Answer Hide Answer
Suggested Answer: B, C

by Marge at Aug 27, 2024, 02:23 AM

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Latia
4 months ago
I thought it could catch all mistakes, guess I was wrong!
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Millie
5 months ago
It can highlight errors, but not all types.
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Shoshana
5 months ago
Wait, it doesn't actually prove everything is correct?
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Cecilia
5 months ago
Totally agree, it's all about balance!
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Val
5 months ago
A trial balance just shows if debits and credits match.
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Chana
6 months ago
I vaguely recall that a trial balance doesn't really prove the ledger balances are correct, but it does help in spotting discrepancies. I might lean towards option C as well.
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Glenna
6 months ago
I feel like option C is the most straightforward answer since the trial balance shows whether the debits and credits match up. But what about errors of principle?
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Mignon
6 months ago
I think it can help identify some errors, but it doesn't catch everything. I practiced a question about this last week, and I remember it mentioned something about errors of omission.
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Dominque
6 months ago
I remember that a trial balance mainly checks if the total debits equal the total credits, but I'm not sure if it proves the accuracy of each account.
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Micah
6 months ago
The key thing to remember is that a trial balance demonstrates the ledger account balances are accurate and that debits equal credits. Focusing on those core functions should help me answer this correctly.
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German
6 months ago
Wait, I thought a trial balance was supposed to highlight errors of omission and principle too. I'm a bit confused about the full scope of what it does.
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Marshall
6 months ago
I've got this! A trial balance shows that the debit and credit balances agree, which is a good way to check for errors. I'm pretty confident in this one.
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Juliana
6 months ago
Okay, let me see here. A trial balance is meant to prove the ledger account balances are correct, right? Or does it also highlight errors? I'm a bit unsure.
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Nadine
6 months ago
Hmm, this seems like a straightforward question about the purpose of a trial balance. I'll need to think carefully about the key functions it serves.
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Patria
6 months ago
Yikes, this is a sticky situation with my supervisor involved. I better be super thorough in my analysis and documentation. Can't afford to mess this up.
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Deandrea
6 months ago
I'm a bit confused by the terminology in this question. E-UTRAN and UTRAN are not concepts I'm super comfortable with. I'll have to guess on this one and hope for the best.
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Cristina
11 months ago
I'll have to agree with C) Show that debit and credit balances agreed. It's the classic purpose of a trial balance, like a financial Sudoku puzzle!
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Jill
10 months ago
I agree with both of you. The trial balance is a crucial tool in the accounting process.
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Nicolette
10 months ago
Yes, that's true. It helps ensure accuracy in the financial records.
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Dulce
10 months ago
I think A) Prove the ledger account balances are correct is also an important function of a trial balance.
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Quinn
11 months ago
D) Highlight errors of principle is an interesting choice, but I think C) is the way to go. Can't have any imbalance in those ledger accounts!
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Delisa
11 months ago
I agree, C) is important to ensure everything is balanced.
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Tawanna
11 months ago
C) Show that debit and credit balances agreed
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Kris
11 months ago
A) Prove the ledger account balances are correct
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Odelia
12 months ago
Ah, the trial balance, the accountant's sidekick! I'm going with C) Show that debit and credit balances agreed. Gotta keep those debits and credits in harmony, you know?
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Samuel
10 months ago
User 4: Yeah, C) Show that debit and credit balances agreed is definitely important for accuracy.
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Lewis
10 months ago
User 3: I agree with Lewis, keeping the debits and credits in harmony is crucial.
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Carmela
11 months ago
User 2: I believe it's C) Show that debit and credit balances agreed.
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Dalene
11 months ago
User 1: I think A) Prove the ledger account balances are correct.
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Sheridan
12 months ago
I think the trial balance is important to ensure accuracy in financial statements.
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Amira
12 months ago
B) Highlight any errors of omission seems logical too. A trial balance can help identify transactions that were not recorded.
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Alease
11 months ago
B) Highlight any errors of omission
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Cruz
11 months ago
A) Prove the ledger account balances are correct
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Nakisha
12 months ago
C) Show that debit and credit balances agreed
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Garry
1 year ago
I think the correct answer is C) Show that debit and credit balances agreed. A trial balance is a basic accounting tool that ensures the accounting equation is balanced.
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Noelia
11 months ago
So, it's an important step in the accounting process to ensure accuracy in financial statements.
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Alonzo
11 months ago
It also helps to detect any errors in recording transactions, like if a number was entered incorrectly.
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Clement
11 months ago
Yes, that's correct. A trial balance helps to ensure that the total debits equal the total credits in the ledger accounts.
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Thersa
11 months ago
I think the correct answer is C) Show that debit and credit balances agreed.
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Jillian
1 year ago
A) Prove the ledger account balances are correct
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