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Correct answer
D. Mathematically Capital+Liabilities=Assets
Explanation
Mathematically Capital+Liabilities=Assets is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. Recording financial information
Explanation
Recording financial information is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Two
Explanation
Two is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Rent expenses account
Explanation
Rent expenses account is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. $2000
Explanation
$2000 is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
D. Mistake in balancing an account
Explanation
A. The mistake in balancing an account affects the agreement of a Trial Balance A. is the correct answer. The other mistakes do not affect the agreement of Trial Balance. The omission to record a transaction entirely in the subsidiary books B. will not affect the agreement of a Trial Balance because both the aspects of a transaction are omitted to be recorded. Recording of a wrong entry in the subsidiary books (c ) will not cause disagreement of a Trial Balance because, the wrong entry so recorded has the effect of posting the transaction in the manner it is recorded. Posting an entry on the correct side in the wrong account D. does not affect the tallying of a Trial Balance because the aspect of the transaction is posted to the correct side of an account. Thus A. is the correct answer.
Correct answer
B. Cost of stand by equipment
Explanation
Cost of stand by equipment is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
D. Trading A/c
Explanation
Trading A/c is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. Capital+Liabilities=Assets
Explanation
Capital+Liabilities=Assets is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Either A or B above
Explanation
Either A or B above is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.