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Question
Complete the following sentence:
______ is assured only when there are no errors in the books of accounts.
Fill in the Blanks
Solution
Accuracy is assured only when there are no errors in the books of accounts.
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Meaning and Effects of Errors
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Answer in One Sentence:
What is meant by rectification of errors?
Do you agree or disagree with the following statement:
The unintentional omission or commission of amounts and accounts while recording the transactions are known as an error.
Do you agree or disagree with the following statement:
The errors committed due to wrong recording, wrong posting, wrong totalling, wrong balancing, wrong calculations are known as Arithmetical errors.
Complete the following sentence:
Errors are caused due to ______ recording of transactions.
