Sunday 29 May 2011

Is Trial Balance indispensable ?

It is a mere statement prepared by the accountants for his own convenience and if it agrees,
it is assumed that at least arithmetical accuracy has been done although there may be a lot of
errors.
Trial Balance is not a process of accounts. But its preparation helps us to finalise the accounts.
Since it is prepared on a particular date, as at ........ / as on ........ is stated.

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