Trial Balance Practice Quiz
Trial Balance Practice Questions
Try to answer these 5 True or False questions about the Trial Balance. Can you get them all right?
The Trial Balance is a type of Financial Statement.
a) True
b) False
The Trial Balance shows us the balances of all accounts in the General Ledger.
a) True
b) False
A Trial Balance is only prepared after Closing Entries have been posted.
a) True
b) False
An Adjusted Trial Balance is prepared after all Adjusting Entries have been posted.
a) True
b) False
If Total Debits match Total Credits in a Trial Balance, then there are no errors.
a) True
b) False
Scroll down to see the answers.
Trial Balance Practice Question Video
The Trial Balance quiz can also be found in this video:
Trial Balance Practice Answers
Here are the answers:
b) False. The Trial Balance is not a Financial Statement. It's an internal report that lists all ledger accounts and their balances.
a) True. The Trial Balance shows the balances of all accounts in the General Ledger.
b) False. A Trial Balance can be run at any point in time.
a) True. An Adjusted Trial Balance is prepared after all Adjusting Entries have been posted.
b) False. Errors can still exist in a Trial Balance, even if it is balanced e.g. omitted entries & misclassified transactions.
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Trial Balance Question Pack
My Trial Balance question pack contains 20 practice questions and answers. You can download it here if you’d like more practice.
This digital product is a .zip file consisting of 20 Trial Balance practice questions along with the corresponding answers.
Contents:
Trial Balance Question Pack 1.pdf (2 Pages)
Trial Balance Answer Pack 1.pdf (7 Pages)
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Feel free to print, annotate and add them to your notes.
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Trial Balance Cheat Sheet
You can also download my Trial Balance Cheat Sheet here. It contains a concise summary of all the key facts that you need to know.
Build your understanding of the Trial Balance with this clear, beginner-friendly cheat sheet. This one-page visual guide brings the key concepts together in one convenient reference that you can view on screen, print, annotate or add to your study notes.
It also summarizes the key information from my Trial Balance video, making it ideal for reviewing the topic after watching.
What's Included
One-page Trial Balance Cheat Sheet
Clear definitions, examples and visual explanations
PDF for on-screen viewing or printing
Instant access via email after purchase
Topics Covered
What a Trial Balance is and its role in the Accounting Cycle
How account balances are transferred from the General Ledger
How total Debits and Credits are presented and checked
The six main types of accounts and their normal balances
How the Trial Balance supports the preparation of Financial Statements
Please Note
This is a digital product. No physical item will be shipped. The PDF is not interactive, editable or fillable.
For personal use by the original purchaser only. The file may not be shared, copied, resold or distributed.
Copyright © 2026 Accounting Stuff Pty Ltd.
All prices are in USD.