describe how accuracy in trial balance is a prime objective
for preparing the financial statements?
- 2 Answers
- 5259 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Trial Balance shows the airthmatical accuracy . if there is
any specefic kind of error occur in trial balance then
balance will nt be tally.. bt in some case(error of
ommission etc.) it'll be.
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / rajiv sabharwal
Trial balance is an initial step of discovering the balances
of each and every account prepared during the accounting
period and is the base of every report prepared after that.
Though few errors can't be traced out but still Trial
Balance give the accurate position and reflects errors that
can be detected at an initial stage.
Therefore Trial Balance plays an important role for all the
other reports.
| Is This Answer Correct ? | 4 Yes | 1 No |
what is shares buy back And Stock plit.
What is the difference between horizontal balence sheet & vertical balence sheet explain in detail.
What is meaning of ficticious asset
selling price = shs. 200, variable overhead-selling per unit= shs 80, variable production cost per unit = shs 60, fixed selling cost = 2,840,000. the production capacity of the project is 200,000 units. required P/V ratio, BEP and margin of safety
what is the meaning of interim period?
How to Maintain Medical Stores accounts in Tally?Please send me full details???????????????? thanks
Explain about accrual basis of accounting
What is income tax,sales tax and vat?
honararium for the month of march 2013 can be paid on 31 mar 2013
what is trailbalance..?
What is the professional firm you think?
What are all the items come under P&L and Balance sheet?
14 Answers EF, TCS, Wipro,
Audit 
