CIMA Exam CIMAPRA17-BA3-1 Topic 4 Question 95 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam

Question #: 95
Topic #: 4

[All CIMAPRA17-BA3-1 Questions]

A trial balance is extracted from the ledger accounts at the end of each accounting period.

Which of the following will a trial balance do?

AProve the ledger account balances are correct

BHighlight any errors of omission

CShow that debit and credit balances agreed

DHighlight errors of principle

Show Suggested Answer

Suggested Answer: B, C

by Marge at Aug 27, 2024, 02:23 AM

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Cristina

1 months ago

I'll have to agree with C) Show that debit and credit balances agreed. It's the classic purpose of a trial balance, like a financial Sudoku puzzle!

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Jill

1 days ago

I agree with both of you. The trial balance is a crucial tool in the accounting process.

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Nicolette

5 days ago

Yes, that's true. It helps ensure accuracy in the financial records.

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Dulce

14 days ago

I think A) Prove the ledger account balances are correct is also an important function of a trial balance.

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Quinn

2 months ago

D) Highlight errors of principle is an interesting choice, but I think C) is the way to go. Can't have any imbalance in those ledger accounts!

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Delisa

1 months ago

I agree, C) is important to ensure everything is balanced.

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Tawanna

1 months ago

C) Show that debit and credit balances agreed

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Kris

1 months ago

A) Prove the ledger account balances are correct

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Odelia

2 months ago

Ah, the trial balance, the accountant's sidekick! I'm going with C) Show that debit and credit balances agreed. Gotta keep those debits and credits in harmony, you know?

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Samuel

15 days ago

User 4: Yeah, C) Show that debit and credit balances agreed is definitely important for accuracy.

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Lewis

16 days ago

User 3: I agree with Lewis, keeping the debits and credits in harmony is crucial.

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Carmela

1 months ago

User 2: I believe it's C) Show that debit and credit balances agreed.

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Dalene

1 months ago

User 1: I think A) Prove the ledger account balances are correct.

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Sheridan

2 months ago

I think the trial balance is important to ensure accuracy in financial statements.

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Amira

2 months ago

B) Highlight any errors of omission seems logical too. A trial balance can help identify transactions that were not recorded.

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Alease

1 months ago

B) Highlight any errors of omission

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Cruz

2 months ago

A) Prove the ledger account balances are correct

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Nakisha

2 months ago

C) Show that debit and credit balances agreed

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Garry

2 months ago

I think the correct answer is C) Show that debit and credit balances agreed. A trial balance is a basic accounting tool that ensures the accounting equation is balanced.

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