Interested to Buy Any Domain ? << Click Here >> for more details...
Even if Trial balance tallies.there will show some errors
why? what is the reason?
- 4 Answers
- 8390 Views
- Genpact, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / satyaki_raju@yahoo.com
Before going for preperation of financial statements we
have to get tallied the trial balance. The trial balance
proves the arthematical accuracy of the books of accounts.
Even though it is tallied therer are some possibilities of
errors which canot be detected by trial balance they are
1.Errors of principle
2.Compensating errors
3.Errors of commission
4.errors of ommission
| Is This Answer Correct ? | 17 Yes | 0 No |
Answer / venugopal redddy
Errors are of two types
1. Error of principal
2. Clerical Error
a. Compensating errors
b. Errors of commission
c. Errors of om mission
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / sowmya
B'COZ THERE ARE SOME ERRORS THAT HAVE DOUBLE FOLD EFFECT
&HENCE THEY GET COMPENSATED .THERE WUD B NO EFFECT ON THE
FINAL RESULT
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / anki
B'cos of compensating errors n errors of ommission as there
have double fold effect and have no effects on trial
balance respectively.
| Is This Answer Correct ? | 2 Yes | 0 No |
Expand ------MNIC
What is Petty Cash Book?
expand V R S
why is it called profit and loss account why not profit or loss account, ( u either get profit or loss )
13 Answers Genpact, Symbiosis,
why funds management doc is generated during migo and miro
what is the entry for accounts receivables and accounts payables? what is the entry for bills receivables and bills payables?
how are the items of the p& l linked to the items in the balance sheet
How to make an adjustment entry for the variation of physical asset Vs book value of asset. For example: As per asset register there are 1000 computers where as 950 computers are available in stores. How to make an adjustment entries for the difference of 50 quantities?
what is zero base budget?
what is debt equity ratio
7 Answers Banking, ICICI, State Bank Of India SBI,
where do u get credit opening balance?
Expand N S E
Audit 
