A. Ledger accounts balances
B. Balance sheet balances
C. Income statement balances
D. Cash flow statement balances
A. Yes
B. No
C. Transactions can’t be omitted
D. none of these
A. Ledger accounts
B. General Journal
C. Specialized journals
D. Balance sheet
A. It lists down the balances of accounts
B. It lists down the balances of a balance sheet
C. It is a kind of financial statement
D. It is not a part of accounting cycle
A. No error in recording transactions
B. No error in posting entries to ledger accounts
C. Account balances are correct
D. Mathematically Capital+Liabilities=Assets
A. Frequently during the year
B. At the end of an accounting period
C. At the end of a month
D. At the end of a year
A. Complete omission of a transaction
B. Partial omission of a transaction
C. Error of principle
D. Compensating errors
A. Arithmetic accuracy
B. Errors of commission
C. Omissions of economic events
D. Understatements of balances
A. Rent income account
B. Creditors account
C. Unearned income account
D. Cash account