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CIMA Exam CIMAPRA17-BA3-1 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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Cristina
3 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
2 months ago
I agree with both of you. The trial balance is a crucial tool in the accounting process.
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Nicolette
2 months ago
Yes, that's true. It helps ensure accuracy in the financial records.
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Dulce
2 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
4 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
3 months ago
I agree, C) is important to ensure everything is balanced.
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Tawanna
3 months ago
C) Show that debit and credit balances agreed
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Kris
3 months ago
A) Prove the ledger account balances are correct
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Odelia
4 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
2 months ago
User 4: Yeah, C) Show that debit and credit balances agreed is definitely important for accuracy.
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Lewis
3 months ago
User 3: I agree with Lewis, keeping the debits and credits in harmony is crucial.
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Carmela
3 months ago
User 2: I believe it's C) Show that debit and credit balances agreed.
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Dalene
3 months ago
User 1: I think A) Prove the ledger account balances are correct.
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Sheridan
4 months ago
I think the trial balance is important to ensure accuracy in financial statements.
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Amira
4 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
3 months ago
B) Highlight any errors of omission
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Cruz
4 months ago
A) Prove the ledger account balances are correct
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Nakisha
4 months ago
C) Show that debit and credit balances agreed
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Garry
4 months 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
3 months ago
So, it's an important step in the accounting process to ensure accuracy in financial statements.
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Alonzo
3 months ago
It also helps to detect any errors in recording transactions, like if a number was entered incorrectly.
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Clement
4 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
4 months ago
I think the correct answer is C) Show that debit and credit balances agreed.
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Jillian
5 months ago
A) Prove the ledger account balances are correct
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