Ask Question
BusinessBusiness
27 April, 19:41

The agreement of the trial balance total is an indication that all transactions have been properly recorded in the books of accounts do you agree justify your answer

+1
Answers (1)
  1. 27 April, 22:25
    0
    Answer: I did not agree that the agreement of trial balance is an indication that all transactions have been properly recorded in the books of account. it only means that certain types of errors have not been made.

    Explanation:

    Trial balance is an account prepared in order to test the arithmetical accuracy of entries in the ledger account. When a double entry principle has been observed then the total of debit entry must equal the total of credit entry in the trial balance. The balancing of the two sides of the trial balance does not mean that the account is correct. It means that certain types of errors have not been made. In the sense that there are several types of error which will not affect the balancing of trial balance such as the compensating error, error of original entry, error of omission, error of commission and so on will not affect the balancing of trial balance.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The agreement of the trial balance total is an indication that all transactions have been properly recorded in the books of accounts do you ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which one of the following schools would appear first in an alphabetical indexing system? A. Central High School, St. Louis, MO B. Central High School, Canton, OH C. Central High School, Scranton, PA D. Central High School, Dearborn, MI
Answers (1)
Deciding what represents a core competency in an organization is: always the same for companies in the same industry. a decision best left to the organization's Board of Directors. a decision best left to the Chief Executive Officer.
Answers (1)
Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following alternative circumstances?
Answers (1)
In the Month of March, Chester received orders of 164 units at a price of $15.00 for their product Cute, and in April receives an order for 41 units of their product Cute at $15.00.
Answers (1)
Define unemployment and unemployment rate, and give examples of ways in which the unemployment rate varies.
Answers (1)
New Questions in Business
Dougherty Corporation purchased a new delivery van for use in its dry-cleaning business. As part of the purchase of the van the following costs were incurred: Acquisition cost 30,000, Sales tax 1,800, Title transfer 250, paid to the company logo on
Answers (1)
Horatio Alger is the product manager for Brand X, a consumer product with a retail price of $1.20. Retail margins are 35% while wholesalers take an 11.5% margin.
Answers (1)
Explain what is meant by market research.
Answers (1)
Jean, a restaurant critic, publishes a review in a national daily that the sandwiches served at his friend's deli are usually not fresh. Tom, the owner of the deli, notices a significant decrease in customers after the review gets published.
Answers (1)
Why did the Soviet Union experience many surpluses and shortfalls? A) The labor force wasn't well educated B) The cold climate made farming hard C) Central planners could not manage every detail D) The country depended on imports to obtain resources.
Answers (1)
Home » Business » The agreement of the trial balance total is an indication that all transactions have been properly recorded in the books of accounts do you agree justify your answer
Sign Up Forgot Password?