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Question
State with reasons whether the following statement is true or false:
Trial balance is an absolute proof of the accuracy of the books of accounts.
State with reasons whether the following statement is true or false:
Trial balance is an absolute proof of the accuracy of the books of accounts.
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Solution
The correct option is B False
Equal balance, of trial balance is not a proof of complete accuracy e.g. trial balance cannot detect error of principle, compensating error etc.
Equal balance, of trial balance is not a proof of complete accuracy e.g. trial balance cannot detect error of principle, compensating error etc.
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