State whether the following statements are True or False:
A trial balance can agree in spite of certain errors.

True

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False

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Solution

The correct option is A True
Trial Balance is prepared to check the arithmetical accuracy of accounts.
Thus, a Trial Balance can agree in spite of certain errors. It only ensures the arithmetical accuracy and not the accounting accuracy.

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Similar questions

State whether the following statements are True or False-

1) A trial balance can agree in spite of certain errors.
2) Errors committed due to lack of accounting knowledge are errors of omission.
3) Trial balance is prepared from the balance of ledger accounts.
4) Rectification entries are passed in cash book.
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.

Q. State whether the following statements are True or False:
Compensating errors affect the agreement of trial balance.

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

Q. State whether the following statements are True or False:
Errors of commission do not allow the trial balance to agree.

Q. State whether the following statements are True or False:
Preparation of trial balance helps in locating an error of principle.

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State whether the following statements are True or False:A trial balance can agree in spite of certain errors.

The correct option is A TrueTrial Balance is prepared to check the arithmetical accuracy of accounts.Thus, a Trial Balance can agree in spite of certain errors. It only ensures the arithmetical accuracy and not the accounting accuracy.

State whether the following statements are True or False:
A trial balance can agree in spite of certain errors.

The correct option is A True
Trial Balance is prepared to check the arithmetical accuracy of accounts.
Thus, a Trial Balance can agree in spite of certain errors. It only ensures the arithmetical accuracy and not the accounting accuracy.