Trial balance is a conclusive proof of accuracy of accounts.

True

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False

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Solution

The correct option is B False
False. Trial balance is not a conclusive proof of accuracy of accounts as the trial balance might tally in cases where there are compensating errors. Hence, it does not justify that the accounts are free from any frauds or errors.

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Similar questions

Q. Trial Balance is a proof of __________ accuracy.

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Q. 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.

Q. If an organisation has followed the _______ entry system they must prepare a trial balance for checking the accuracy of the ledger accounts.

Q. State whether the following statement is True or False.
A Trial balance does not ensure accounting accuracy.

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Trial balance is a conclusive proof of accuracy of accounts.

The correct option is B FalseFalse. Trial balance is not a conclusive proof of accuracy of accounts as the trial balance might tally in cases where there are compensating errors. Hence, it does not justify that the accounts are free from any frauds or errors.

The correct option is B False
False. Trial balance is not a conclusive proof of accuracy of accounts as the trial balance might tally in cases where there are compensating errors. Hence, it does not justify that the accounts are free from any frauds or errors.