A Trial Balance can agree in spite of certain errors.

Correct Answer - Balance Method.

Trial Balance is an abstract or list of all the ledger accounts as on a specified date showing debit total and the credit total of all the accounts or their net...

This statement is False. Even though the Trial balance is tally there may be some mistake like the complete omission of transaction or compensatory error so Agreement of Trial Balance does...

This statement is True. Trial balance is an extract of ledger balances. Ledger is prepared of journal book which follows the Double Entry System of bookkeeping. When both the effects of...

i. One-sided errors ii. Overcasting iii. Error of omission iv. Error of principle v. Suspense account

i. Compensating error ii. Two-sided errors iii. Errors of commission

This statement is True. A Trial balance is a statement of debit and credit balances extracted from the various accounts in the ledger. All business transactions are recorded first in Journal...

This statement is True. When the Trial Balance does not tally a temporary account called ‘Suspense Account’ is opened to balance the trial balance. So when the trial balance is agreed there...

A trial balance cannot be prepared under a single entry system.

Correct option is: (A) Debit balance