describe how accuracy in trial balance is a prime objective
for preparing the financial statements?
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 the entry passed for sales return (sales is on credit basis)?
what is working capital in what way it is useful for company or orgainzation
I want to become CFA so kindly provide me all information regarding this like fees structure,colleges in mumbai,duration etc.
expand P P Division
What is the Difference between hire purchase and a finance Lease?
what is capitaemployed?
What is the Technology used to carry out trades?
EXPAND______________RAC
Answered but misspelled pl correct DEBIT INCREASES IN AN (ANS.SSATE)
plz send me the apptitude question papers of wipro
What is Contigent Liability?
What is journal entry