MCQ Practice

Which of the following statements is true?

Subject: AccountingTopic: Accounting
A

If a Trial Balance tallies, it always means that none of the transactions has been completely omitted

B

A Trial Balance will not tally if a transaction is omitted

C

A customer to whom goods have been sold on credit cannot avail himself of a cash discount

D

A credit balance in the Pass Book indicates excess of deposits over withdrawals

Correct Answer: D