What is the correct answer?


If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books of accounts.

A. True

B. False

Correct Answer :

B. False

Related Questions

An expense incurred to keep the machine in working condition is a capital… Cash payments are recorded on the _______________ of the Cash Book. If the totals of debit and credit columns of a Trial Balance are equal,… All events are transactions but all transactions are not events. Fixed Assets are stated in the balance sheet at their market value. Capital of the business is an example of external liability. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash… The short description of a transaction written at the end of a journal… Any type of error affects the agreement of Trial Balance. The aggregate of direct material, direct labour and direct expenses is… The accounts of a company may be maintained using Single Entry System… All credit sales are recorded in The balance in the Cash Book represents net income. According to the Concept of Conservatism, an accountant should The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%.… Accrual concept implies accounting on cash basis. Depreciation is not charged on _______________. Deferred Revenue Expenditure is current year's revenue expenditure to… Net Realisable Value of an asset means Arrange the steps of accounting in sequential order - (i) Trial Balance;… Copyright is an example of Cash is an example of Bank Reconciliation statement is prepared to arrive at the Bank Balance. Expenditure, which result in acquisition of permanent assets, is a capital… In Double Entry System of Book Keeping, the total of Debit balances may… Which of the following equation(s) is(are) true An expenditure intended to benefit the current period is revenue expenditure. WDV stands for Transfer to General Reserve is a charge against All indirect expenses are charged against