PRC-1 · Chapter 3 · Question 52 of 100
Which of the following accounts will normally present a debit balance in a trial balance?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Carriage Inwards
Explanation
Carriage inwards is an expense incurred when purchasing inventory. Because it is an expense account, it naturally carries a debit balance.
More Ledgers and Trial Balance MCQs
- Q54The Trade Payables account has an opening credit balance of Rs. 66,450. During the period, purchases were Rs. 205,600, payments made were…
- Q55The Trade Receivables account has an opening debit balance of Rs. 46,652. During the period, sales were Rs. 245,000, cash received was Rs…
- Q56Which of the following ledgers typically contains the Owner's Capital account and the Drawings account?
- Q57In which specific ledger would the 'Return Inwards' (Sales Returns) account be permanently located?
- Q58A business extracts its trial balance, and the debit side is Rs. 5,000 higher than the credit side. Which of the following errors could…