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Hi,i went for an interview they asked me why a balance
sheet should tally.can anyone tell me
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Answer / muhammad arjumand
my name is m.arjumand i am an ACCA accounting technition
the answer for your question is
why B.s should be tally
simple answer is that
as we know from accounting equation that
asset=capital+liability
we can easily say that total asset must be eqaul to the
total capital+liability
if there is no liability then asset will be eqaul to the
total capital wich is also called the Net Asset
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / umesh kanchan
simple
b/s is a statement of accounts which has to tally because
we practice double entry system
one debit & one credit
| Is This Answer Correct ? | 5 Yes | 0 No |
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