Finally preparation of trial balance is
Compulsory
Not compulsory
Both of these
None of these
If the trial balance agrees, it implies that
There is no error in the books
There may be two sided errors in the book
There may be one sided error in the book
There may be both two sided and one sided errors in the books.
When sale of goods is not recorded it is
An error in posting
Error of omission
Error of Commission
Error of principle.
___________ forms a connecting link between the ledger account and the final account.
Journal
Ledger
Trial balance
Balance sheet
_______ account is used for rectifying the one sided errors only.
Suspense
Capital
A mistake of committed intentionally by an accountant to defraud others are called as
Fraud
Mistake
All of these
Error of commission
Error of principle
If a wrong amount is posted it will not detect through trial balance is an error of
Omission
Commission
Principle
Duplication
Errors where transactions are totally omitted to be recorded in the journal or subsidiary book and which do not affect the agreement of trial balance is called
Errors of omission
Errors of commission
Eerrors of principles
Errors of duplications
When an accounting principle is violated while recording a transaction in the books of account is an example of
Errors of principles
Errors of Commission
Error of posting
