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describe how accuracy in trial balance is a prime objective
for preparing the financial statements?
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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 |
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