Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

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

Limited Time Offer

25%

Off

Get Premium CIMAPRA17-BA3-1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Cristina
26 days 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!
upvoted 0 times
...
Quinn
1 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!
upvoted 0 times
Delisa
21 days ago
I agree, C) is important to ensure everything is balanced.
upvoted 0 times
...
Tawanna
23 days ago
C) Show that debit and credit balances agreed
upvoted 0 times
...
Kris
27 days ago
A) Prove the ledger account balances are correct
upvoted 0 times
...
...
Odelia
1 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?
upvoted 0 times
Carmela
16 days ago
User 2: I believe it's C) Show that debit and credit balances agreed.
upvoted 0 times
...
Dalene
19 days ago
User 1: I think A) Prove the ledger account balances are correct.
upvoted 0 times
...
...
Sheridan
2 months ago
I think the trial balance is important to ensure accuracy in financial statements.
upvoted 0 times
...
Amira
2 months ago
B) Highlight any errors of omission seems logical too. A trial balance can help identify transactions that were not recorded.
upvoted 0 times
Alease
25 days ago
B) Highlight any errors of omission
upvoted 0 times
...
Cruz
1 months ago
A) Prove the ledger account balances are correct
upvoted 0 times
...
...
Nakisha
2 months ago
C) Show that debit and credit balances agreed
upvoted 0 times
...
Garry
2 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.
upvoted 0 times
Noelia
24 days ago
So, it's an important step in the accounting process to ensure accuracy in financial statements.
upvoted 0 times
...
Alonzo
25 days ago
It also helps to detect any errors in recording transactions, like if a number was entered incorrectly.
upvoted 0 times
...
Clement
29 days ago
Yes, that's correct. A trial balance helps to ensure that the total debits equal the total credits in the ledger accounts.
upvoted 0 times
...
Thersa
1 months ago
I think the correct answer is C) Show that debit and credit balances agreed.
upvoted 0 times
...
...
Jillian
2 months ago
A) Prove the ledger account balances are correct
upvoted 0 times
...

Save Cancel