Subsidiary books do not have both the debit and credit sides. They simply have either debit or credit balance. Is this statement correct?

Yes, it is correct

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No, it is not correct

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Both A & B

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None of the above

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Solution

The correct option is A
Yes, it is correct

Subsidiary books do not have both the debit and credit sides. They simply have either debit or credit balance.

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If there is a compensating error in books, then the totals of debits & credits shall not tally in the Trial Balance. Is this Correct?

Under ___ method , the capital account may have either debit or credit balances.

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