Is it correct to say that a trial balance is only a prima facie evidence of arithmetical accuracy of records ?

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Solution

Yes, if totals of both the sides of a trial balance are equal then it is proved that books are atleast arithmetically correct.

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Similar questions

Q. State whether the following statement is True or False.
A Trial balance shows only arithmetical accuracy.

Q. State with reasons whether the following statement is true or false:
Tallying of the Trial Balance only proves arithmetical accuracy.

Trial Balance is prepared with a view to verify arithmetical accuracy.

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Q. It is a check on the accuracy of posting. If the trial balance agrees it proves that -
1. The books are arithmetically accurate
2. Both the aspects of the transactions have correctly recorded in the books of original entry as well as in the ledger.
The correct answer is ___________________.

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