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  1. Asked: May 31, 2024In:

    Define error of principle?

    Anamikha
    Anamikha Knowledge Contributor

    Errors committed due to lack on the basis of the principle of accounting

    Errors committed due to lack on the basis of the principle of accounting

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  2. Asked: May 31, 2024In:

    Trial balance is ?

    Anamikha
    Anamikha Knowledge Contributor

    Trial balance is A statement prepared

    Trial balance is A statement prepared

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  3. Asked: May 31, 2024In:

    Errors committed by omitting entries in the journal book are called?

    Anamikha
    Anamikha Knowledge Contributor

    Errors committed by omitting entries in the journal book are called An error of omission

    Errors committed by omitting entries in the journal book are called An error of omission

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  4. Asked: May 31, 2024In:

    A trial balance is prepared after ?

    Anamikha
    Anamikha Knowledge Contributor

    After posting it to the ledger is complete, and the accounts have been balanced

    After posting it to the ledger is complete, and the accounts have been balanced

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  5. Asked: May 31, 2024In:

    If wages paid for the installation of new machinery is debited to the wages account, it is What error?

    Anamikha
    Anamikha Knowledge Contributor

    If wages paid for the installation of new machinery is debited to the wages account, it is An error of principle

    If wages paid for the installation of new machinery is debited to the wages account, it is An error of principle

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  6. Asked: May 31, 2024In:

    If the suspense account does not balance off even after rectification of errors, it implies that ?

    Anamikha
    Anamikha Knowledge Contributor

    There are some one-sided errors only in the books yet to be ascertained

    There are some one-sided errors only in the books yet to be ascertained

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  7. Asked: May 31, 2024In:

    If the trial balance does not tally after many efforts, then which account is opened ?

    Anamikha
    Anamikha Knowledge Contributor

    If the trial balance does not tally after many efforts, then Suspense account is opened

    If the trial balance does not tally after many efforts, then Suspense account is opened

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  8. Asked: May 31, 2024In:

    Who is an auditor ?

    Anamikha
    Anamikha Knowledge Contributor

    An auditor is an independent professional who examines and verifies the accuracy of a company's financial records and reports.

    An auditor is an independent professional who examines and verifies the accuracy of a company’s financial records and reports.

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  9. Asked: May 31, 2024In:

    Favorable balance means ?

    Anamikha
    Anamikha Knowledge Contributor

    Credit balance in the bank statement Debit balance in the cash book

    Credit balance in the bank statement
    Debit balance in the cash book

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  10. Asked: May 31, 2024In:

    Bank reconciliation statement is ?

    Anamikha
    Anamikha Knowledge Contributor

    Bank reconciliation statement is A separate statement

    Bank reconciliation statement is A separate statement

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