Question

When total debits equal total credits on a trial balance, we can be assured that no errors of any sort occurred during the preceding steps in the accounting cycle.A. TrueB. False

Answer 1

Answer:

B. False

Explanation:

When total debits equals to total credits on a trial balance, we can't assured that there are no errors of any sort occurred during the preceding steps in the accounting cycle.

Following Accounting Errors may result in Balanced Trial Balance

Errors of omissions

Errors of commissions

Errors of misposting

Compensating errors

Errors of Principle