Question

is trial balance a conclusive proof of the accuracy of the books of accounts.if not, what are the errors which remain undetected inspite of its agreement

Answer 1

Answer:

No, Trial Balance is not a complete proof of arithmetical accuracy of account. A Trial Balance in which the credit and debit accounts match does not prove that, all transactions have been recorded in the proper accounts.

Answer 2

No, the trial balance is not the complete measure which proof the accuracy arithmetically

Explanation:

• Trial balance is the worksheet of bookkepping, which is used to record all the balances of the ledgers that are complied into the debit and credit account aggregates, that are equal. It is prepared at the year end.
• No, the trial balance is not the complete measure which proof the accuracy arithmetically of accounts. For example, The invoice of credit sale is completely omitted from being recorded in the sales book, then the error will not be disclosed by the trial balance.
• The errors which are not disclosed by trial balance:

1. Error of omission
2. Error of Principle
3. Compensating error
4. Posted to Wrong account
5. Error of amounts in the original books

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