Which error cannot be revealed on the preparation of the trial balance? Wrong Totalling of account Compensatory Errors Error of Commission Wrong Balancing of an account

Q: A misstatement related to which of the following assertions means the dollar amount of the account…

A: Completeness represents that the financial statement of the company would be required to be…

Q: 21.Which of the following errors will not cause the debit and credit columns of the trial…

A: The trial balance is prepared to record the final balance of each account of the business as debit…

Q: Which of the following errors will not affect the Trial balance? a. Wrong balancing of an account b.…

A: A trial balance's main function is to confirm that the entries in a firm's accounting system are…

Q: What kinds of errors would cause difference in the trial balance. Also listexamples that would not…

A: Generally, errors such as not posting properly, only posting half of the journal entry in the ledger…

Q: If suspense account does not balance off even after rectification of errors it implies that:(a)…

A: Suspense Account Suspense account is refer as the temporary account which carry doubtful entries. It…

Q: If the two totals of a trial balance are equal, does it mean that there are no errors in the…

A: The Agreement of trial balance menas the arithematical accuracy of books. But is does not always…

Q: Which of the following error will be called as an Error of Commission?

A: The error of principle states that it is a error when entries are posted correct for amount but in…

Q: Give an example of an error or fraud that would misstate financial statements to affect the accounts…

A: Given: The example for the financial statement that would be misstated by the error or fault.

Q: hen there is a lack of consistent application of GAAP due to a new accounting pronouncement, no…

A: Audit need to give opinion of true and fair view of financial statement but if auditor need to draw…

Q: If the two totals of a trial balance are equal, does it mean that there are no errors in the…

A: The trial balance reflects all the journal entries made in the general ledger during the accounting…

Q: True or false, the individual posting account balance right offs should be given complete authority…

A: The write-off refers to the amount that is deducted from the receivables balance because this is the…

Q: Explain why the accountant suspected that the accounts had not been adjusted prior to the…

A: Trail balance is the statement which is prepared with the aim and purpose to check that the posting…

Q: Explain why the ledger can still contain errors even through the trial balance is in balance. Give…

A: Trial balance: Trial balance is a summary of all the asset, liability, and equity accounts and their…

Q: Identify which error will cause the trial balance to be out of balance.

A: Answer - A $340 cash receipt from a customer in payment of her account posted as a $340 debit to…

Q: Agreement of trial balance is affected by:(a) One sided errors only.(b) Two sided errors only.(c)…

A: Trial balance is a statement not an account where the balances of all the ledgers accounts of the…

Q: Which of the following error will be called as an Error of Principle? a. A transaction is written…

A: The error of principle states that it is a error when entries are posted correct for amount but in…

Q: Explain how each of the following posting errors affects a trial balance. State whether the trial…

A: (a).              If $900 is credited to service revenue instead of unearned revenue then it would…

Q: The unadjusted trial balance is prepared   a.prior to posting the journal entries. b.only if errors…

A: Lets understand the basics. Stage 1:- At the first stage journal entry is made. Stage 2:- After that…

Q: The ruling method can be used if an error is discovered before or after an entry was posted. A line…

A: A correcting entry in accounting is used to fix mistakes made while recording financial transactions…

Q: The trial balance is a proof about the following accuracies except one: O a. That there are no other…

A: Trial balance is prepared with a view to ensure the arithmetic accuracy of account balances of the…

Q: is the postclosing trial balance not designed to verify

A: The Answer :

Q: If the total debit balance equals the total credit balance on the trial balance, the accounting…

A: Accounting records may contain many types of errors. Some of them are posting mistakes, compensating…

Q: If a discovered accounting error is a counterbalancing error that has already corrected itself no…

A: Rectification entry means where some error has been done in past and we need to rectify that errors.

Q: A transaction is not recorded by the accountant either wholly or partially in the books of accounts…

A: There are various errors that an accountant can commit while recording or posting financial…

Q: Is the agreement of a  trial balance absolute proof of the accuracy of the books of accounts? If…

A: Meaning of Trial balanceA trial balance is a statement that shows the debit totals and credit…

Q: If the trial balance agrees, it implies that:(a) There is no error in the books.(b) There may be two…

A: Trial balance: Trial balance is a summary of all the ledger accounts balances presented in a tabular…

Q: Which of the following is an accurate description of the allowance for doubtful accounts? liability…

A: Allowance for Doubtful Accounts: This is a contra asset account to the Accounts Receivables account…

Q: Explain why the ledger can still contain errors even though the trial balance is in balance.

A: There will be errors in ledger when journal entries are not posted correctly or omitted fully.…

Q: The use of the cumulative effect method to account for a change in accounting principle violates the…

A: Accounting principles are the set of rules which define the way accounts should be prepared and…

Q: Explain why the ledger can still contain errors even though the trial balance is in balance. Give…

A:

Q: What are the steps taken by an accountant to locate the errors in the trial balance?

A: Trial Balance: It is a statement prepared by a company to check the debits and credit balances in…

Q: 8-Which of the following error will be called as an Error of Commission? a. A transaction is posted…

A: Rectification entry means where some error has been done in past and we need to rectify that errors.

Q: If an error is not detected in spite of all efforts and trial balance does not agree then what…

A: The trial balance is prepared by posting debit and credit balance from the ledger accounts.

Q: The ledger and journal entries are part of the posting process. Explain how an accountant would…

A: Trial Balance is prepared after having posted the Journal entries into the Ledger and balancing the…

Q: The fact that your trial balance agree does not mean that there are no errors. Discuss

A: Trail Balance agrees it does not mean there is no errors , because it has errors, the following…

Q: Which of the following errors in the journal entry will not be detected by trial balance. a) Debit…

A: Trial balance is defined as the sheet which records all the ledger balances that are categorized…

Q: Where the correct accounts are used but each item is shown on the wrong side of the account is an…

A: Errors in the account books are the unintentional mistakes that the person preparing the account…

Q: Even though a trial balance reveals that the debits equal the credits, there may still be errors in…

A: Even though debits and credits are having equal values in Trial balance, still we can see errors in…

Q: The fact that your trial balance agree does not mean that there are no errors”.Discuss

A: Ans. Although the debits and credits of a trial balance are equal it does not mean that they are…

Q: If the total of the schedule of accounts payable does not agree with the Accounts Payable balance,…

A:

Q: Which of the following is the postclosing trial balance not designed to verify?   Multiple Choice…

A: Post closing trial balance means a trial balance where all item of revenue and expenses has been…

Q: f the post-closing trial balance does not balance, then the error(s) definitely occurred at some…

A: Trial balance: Trial balance is a summary of all the asset, liability, and equity accounts and their…

Q: How do you make adjustments for a non-counter balancing error and does it affect the present…

A: If the error has not counterpoised then Associate in Nursing entry should be created to maintained…

Q: If the two totals in a trial balance are equal, does that automatically mean there are no errors in…

A: A trial balance shows the compilation of all ledger balances into the debit and credit side.

Q: What is a suspense account? Is it necessary that is suspense account will balance off after…

A: A suspense account is created when there is no certainty about debit or credit of a transaction and…

Q: True or false Reclassification of an error will require an adjustment to the retained earnings…

A: Error and Omission of Error and treatment

Q: If using a short method if the account is not debit to rectify this error will debi that account O…

A: solution concept when a error of omission happens in debiting a account the error can be rectified…

Q: why should the allowance for doubtful account and the valuation and qualifying accounts schedule be…

A: