State with reasons whether the following statement is true or false:
Rectification of errors are necessary to tally the trial balance.

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B False
There is no need to rectify the error in order to tally the trial balance. Trial balance can be tallied by debiting or crediting the difference amount to the suspense account.

Suggest Corrections

Similar questions

Q. Rectification of mistake is necessary to tally the Trial Balance.

Q. State with reasons whether the following statement is true or false:
Compensating errors do not disturb agreement of Trial Balance.

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 with reasons whether the following statement is true or false:
Any type of error affects the agreement of Trial Balance.

Q. State whether the following statement is True or False:-
Suspense account is automatically closed after rectification of all errors.

Join BYJU'S Learning Program

State with reasons whether the following statement is true or false:Rectification of errors are necessary to tally the trial balance.

The correct option is B FalseThere is no need to rectify the error in order to tally the trial balance. Trial balance can be tallied by debiting or crediting the difference amount to the suspense account.

State with reasons whether the following statement is true or false:
Rectification of errors are necessary to tally the trial balance.

The correct option is B False
There is no need to rectify the error in order to tally the trial balance. Trial balance can be tallied by debiting or crediting the difference amount to the suspense account.