wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Which of the following does not affect the agreement of trial balance?

A
Errors of principle
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Complete omission in subsidiary books
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Compensating errors
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
All the three
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is D All the three

Option D is correct one.

Different types of errors which don’t affect the trial balance are :-

Error of omission - Where in the full transaction is omitted from the books of accounts.

Error of commission - Where we have entered the correct amounts but in wrong person’s account.

Error of principle - This type of error takes place when an item is entered in wrong head or class of accounts.

Error of compensation - Are that errors which cancel the effects of each other.

Error of complete reversal of entries - These errors occur when we debit and credit the two or more aspects of a transaction wrongly using correct figures or amounts.


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Items Excluded in GDP
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon