If the effect of errors committed cancel out, the errors will be called compensating errors and the trial balance will disagree. [May 2018, 2 Marks]; [MTP Jan 2025]
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Accounting ProcessQuestion 5021 of 84
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Detailed Solution & Explanation
False: If the effect of errors committed cancel out, the errors will be called compensating
errors and the trial balance will agree.
About This Chapter: Accounting Process
Paper
Paper 1: Accounting
Weightage
25-30%
Key Topics
Journal, Ledger, Trial Balance, Cash Book, Rectification
This chapter covers Journal, Ledger, Trial Balance, Cash Book, Rectification and is part of Paper 1: Accounting in the CA Foundation exam.
View Official ICAI SyllabusExam Strategy Tip
This topic carries 25-30% weightage. Focus on understanding core concepts rather than memorizing.
Key Concepts to Understand
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