Agreeing of trial balance is the elementary proof of mathematical accuracy of books of account but not

Question:

“Agreeing of trial balance is the elementary proof of mathematical accuracy of books of account but not the final proof.” Discuss.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

See More Books

Question Posted: Dec 15, 2023 11:39 PM

See More Questions

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
The following is the pre-closing trial balance for Christina Rehabilitation Hospital as of September 30, 2020. Required a. Prepare a statement of operations and a statement of changes in net assets...
Read all steps in the audit program for cash found on Work Paper 16-1 and familiarize yourself with work papers 16-1 through 16-7. Complete steps 2, 3, 5, 9, 10, and 12. Be sure to document your work...
Given that, VDD = 5V, VTN = 0.4 V, kn = 100 A/V, An = 0.02 V-, () = 80, R = 4 kN, R = 0.5 MN, R3 = 4.5 M, and assume that the current through R and R3 is negligible compared to IDs. 1) Find Vo. For...
An emf of 10 V is connected to a series RC circuit consisting of a resistor of 2.0 x 106 and a capacitor of 3.0 F. Find the time required for the charge on the capacitor to reach 90% of its final...
In Amcors 2017 GRI Report, CEO Ron Delia stated that with our global scale, strong relationships and collaborative approach, Amcor is making improvements and breakthroughs that are raising the...
As you are standing on the platform, a boy in a train moving to the right extends his hand outside the window and releases a ball. In what direction is the ball moving according to (a) you (b) the...
Selco, a U.S. Company, imports and exports tools, shop equipment, and industrial construction supplies. The company uses a periodic inventory system. During April the company entered into the...
1.Discuss the rationale and significance of the Security Market Line (SML) as a representation of the valuation of risky securities. 2.Outline five of the positive characteristics that are...
Write short notes on the following: (a) Capital account and drawings account (b) Trade discount vs cash discount (c) Petty cash book (d) Closing entries
Property, plant and equipment are shown at historical cost, whereas for financial assets recoverable value and current market value are more important. Why is it so? Explain.
Give three examples of pipeline hazards.
Explain how concept of confidence or overconfidence may affect financial decision.
Please explains in details in terms of Operating System as follows: a. Unix file system ? b. superblocks, inode, magic number ?
Describe the economic climate relating to financial services industry. (In your answer, think about the impact a stagnating economy has on the financial services industry. Refer to economic...
discuss the role of technology and innovation in shaping the trajectory of urbanization, from smart city initiatives and digital infrastructure to the advent of shared mobility services and the rise...
owner has a property (land) inside a curved section of an existing roadway. The owner wants to build a project and he asked the municipality's engineer to locate his project by 28 ft from the...
What is the total stockholders' equity based on the following account balances? Common Stock ..............................................$500,000 Paid-In Capital in Excess of Par...
Illini Company, Inc. Balance Sheet as of 12/31/20X0 Assets Current Assets: Cash $1,500,000 Accounts receivable, net 18,000 Inventory 50,000 Total current assets 1,568,000 Equipment 90,000 Goodwill...
Match the statement with the term most directly associated with it. Goodwill.......... Amortization Intangible assets ....... Franchise Research and development costs 1. _______ Rights, privileges,...
Fraud experts often say that there are three primary factors that contribute to employee fraud. Identify the three factors and explain what is meant by each.
What principles of internal control apply to most organizations?
Determine the required resistance and appropriate wattage rating of a carbon film resistor to meet the following requirements: The resistor must have a 225-V IR drop when its current is 150 A. The...
Match the statements to the protocols * faster more reliable used for sending data TCP UDP both
1. Should managers try to maximize market value of equity or to maximize the accounting value of equity in the balance sheet? Why? 2. What is your understanding of the relationship between risk and...

Agreeing of trial balance is the elementary proof of mathematical accuracy of books of account but not

Question:

Step by Step Answer:

Agreeing of Trial Balance A Necessary but Insufficient Proof of Accuracy The statement Agreeing of trial balance is the elementary proof of mathematic...View the full answer

Financial Accounting

Students also viewed these Business questions