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
- 8616 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 |
Why 2:1 is considered as ideal current ratio?
what are the questions put-up on interview in the field of finance operations work ?
Maximum % of Basic Salary
What is a General Ledger Balance? How can it be arrieved at?
what is investment banking
0 Answers RBI, State Bank Of India SBI,
what is credit note and debit note?
What is trail balance? what is Profit & loss a/c ? what is Balance sheet?
Expand---------DCAB
what is diffarant tds and incometex.
Company has 10000 shares, issued dividend of 10rs, tax 25% what is total net profit ?
What Entries come under Bank OCC A/c. & Bank OD A/c. ?
8 Answers State Bank Of India SBI,
I work in a semi govt society. We purchased a flag for celebrating independence day in office premises . Plz tell me under what head / ledger of exp it comes
Audit 
