Name the Errors Which the Trial balance cannot detect
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Answer / satyaki_raju@yahoo.com
Trial balance verify the arthimatical accuracy of the books
of accounts. It can not detece errors of principle,errors
of commission and compensating errors. They can be detected
only thru thorough audit
| Is This Answer Correct ? | 14 Yes | 3 No |
Answer / munawar
Trial balance is a statement and its not an account
and Trial balance is compulsory to prepare to check the
athematical accuracy of the books of accounts.
still there may be errors which trial balance cant detect
they are
Error of principles
Error of omission
Error of commision
and Compensation errors
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / andrew kyambadde
A trial balance is a statement. it can detect errors in case
of say an arithmetic Error, or a double entry Error but it
may not detect the following Errors.
Error of omission
Error of commision
Error of principal
Error of complete reversal.
Errors of original Entry
Errors of compensation.
| Is This Answer Correct ? | 5 Yes | 0 No |
Mr.Jadhike owns a fleet of taxis adn the following information are available from the records maintained b him: 1.Number of taxis 10 2.salary of manager 600pm 3.cost of each taxi 20000 4.salary of cleaner 500pm 5.salary of mechanic 400 pm 6.garage rent 600pm 7.insurance premium 5%pa 8.annual tax 600 per taxi 9.driver salary 200 pm per taxi annual repair 1000 per taxi total life of a taxi is about 200000 kms. a taxi runs in all 3000kms in a month of which 30% it runs empty. Petrol consumption in one litre for 10kms@1.80 per litre. Oil and other are rs 5 per 100 kms calculate the cost of running a taxi per km 5
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