State whether the following statement is True or False:-
Single sided errors affect only one account.

True

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False

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Solution

The correct option is A True
The statement is true.
One-sided errors or single-sided errors affect only one account as only one aspect of the transaction has been omitted or wrongly recorded.
For example: a sum of Rs 2,500 given to Ajay is correctly recorded in the Cash Book but omitted to be posted to the debit side of Ajay's Account.

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State whether the following statements are True or False-

1) A trial balance can agree in spite of certain errors.
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3) Trial balance is prepared from the balance of ledger accounts.
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5) Single sided errors affect only one account.
6) Suspense account is automatically closed after rectification of all errors.
7) Errors affecting the agreement of trial balance are called on side errors.
8) There is no need to open a suspense account if the trial balance agrees.
9) All the errors can be rectified only through suspense account.
10) Compensating errors affect the agreement of trial balance.

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Accounting is useful only to the owner.

Q. State whether the following statements are True or False:
Errors affecting the agreement of trial balance are called one side errors.

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State whether the following statement is True or False:-Single sided errors affect only one account.

State whether the following statement is True or False:-
Single sided errors affect only one account.