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Question Practice

What should be the effect of correcting an error of omission?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Trial Balance and Rectificatio...
Question Bank

What should be the effect of c...

Single Answer MCQ
Q-00054182

What should be the effect of correcting an error of omission?

1

It will not change any totals

2

It increases liabilities

3

It will decrease assets

4

It affects both sides of the trial balance

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Which step is NOT part of preparing a trial balance?

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Q4.

What does a trial balance indicate if the debit and credit totals do not equal?

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