The preparation of financial statements pre-supposes the availability of trial balance in ________ system of accounting.

computerised

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manual

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both manual and computerised

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None of these

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Solution

The correct option is D manual
In a manual system of accounting, the preparation of financial statements pre-supposes the availability of trial balance. However, in computerised accounting, there is no such requirement.

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Is it correct to say that trial balance facilitates the preparation of financial statement ?

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