PRC-1 · Chapter 10 · Question 51 of 100
After all period-end adjustments are posted, the total debit side of an Adjusted Trial Balance equals Rs. 1,200,000. What must be the total of the credit side?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Rs. 1,200,000
Explanation
A fundamental rule of double-entry bookkeeping is that total debits must always equal total credits. Therefore, if the debit side of the Adjusted Trial Balance is Rs. 1,200,000, the credit side must also be Rs. 1,200,000.
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