Which of the following statements is true?

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

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

February 22, 2018   Asghar Khan    Accounting  
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