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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
6 months ago
I thought it could catch all mistakes, guess I was wrong!
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Millie
6 months ago
It can highlight errors, but not all types.
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Shoshana
6 months ago
Wait, it doesn't actually prove everything is correct?
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Cecilia
7 months ago
Totally agree, it's all about balance!
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Val
7 months ago
A trial balance just shows if debits and credits match.
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Chana
7 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
7 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
8 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
8 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
8 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
8 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
8 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
8 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
8 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
8 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
8 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
1 year 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
11 months ago
I agree with both of you. The trial balance is a crucial tool in the accounting process.
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Nicolette
12 months ago
Yes, that's true. It helps ensure accuracy in the financial records.
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Dulce
12 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
1 year 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
1 year ago
I agree, C) is important to ensure everything is balanced.
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Tawanna
1 year ago
C) Show that debit and credit balances agreed
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Kris
1 year ago
A) Prove the ledger account balances are correct
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Odelia
1 year 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
12 months ago
User 4: Yeah, C) Show that debit and credit balances agreed is definitely important for accuracy.
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Lewis
12 months ago
User 3: I agree with Lewis, keeping the debits and credits in harmony is crucial.
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Carmela
1 year ago
User 2: I believe it's C) Show that debit and credit balances agreed.
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Dalene
1 year ago
User 1: I think A) Prove the ledger account balances are correct.
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Sheridan
1 year ago
I think the trial balance is important to ensure accuracy in financial statements.
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Amira
1 year 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
1 year ago
B) Highlight any errors of omission
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Cruz
1 year ago
A) Prove the ledger account balances are correct
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Nakisha
1 year 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
1 year ago
So, it's an important step in the accounting process to ensure accuracy in financial statements.
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Alonzo
1 year ago
It also helps to detect any errors in recording transactions, like if a number was entered incorrectly.
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Clement
1 year 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
1 year 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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