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Why should balance sheet always get tallied ?
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Answer / ritesh.k
bakance sheet shuld always get tallied as we follow double
entry book keeping system &according to it every Dr. should
have corresponding Cr. & until balnce sheet dont get
tallied it dont show the proper financial picture of the
company or a person.
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / ashwin.khambete
the main reason behind is we follow dual aspect concept and all the transactions if posted correctly gives the same figure on both the sides.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / h.r. sreepada bhagi
Balance should match, otherwise it is not correct. This is
because of Dual Aspect Concept (i.e. Debit & credit in every
business transaction should match) If Balance Sheet does not
match, it can not be called by that name (It will be
incorrect & so will be IMBALANCE SHEET)
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