3 Questions
Which of the following is a fundamental accounting principle?
Economic entity assumption
What is the purpose of a trial balance?
To identify errors in the accounting records
Which financial statement reports the financial position of a company at a specific point in time?
Balance sheet
Test your knowledge of fundamental accounting principles, trial balance, and financial statements with this Class XII Accountancy quiz. Challenge yourself with questions on the basic principles of accounting, the purpose of trial balance, and the financial statement that reports the financial position of a company at a specific point in time.
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