Statement I: It may be prepared on a loose sheet of paper. Statement II: The ledger accounts are balanced at first. They will have either "debit-balance" or "credit balance" or "nil-balance". Statement III: The accounts
CS Executive · Corporate and Management Accounting · PYQS · December 2021
Statement I: It may be prepared on a loose sheet of paper. Statement II: The ledger accounts are balanced at first. They will have either "debit-balance" or "credit balance" or "nil-balance". Statement III: The accounts containing debit-balance are written on the debit column, and those with credit-balance are written on the credit column. All the above three statements are relevant for:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Trial Balance
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