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If a transaction is completely omitted from the books of accounts, will it effect the agreement of Trial Balance?
Answer & Solution
Correct Answer:
Option
B
If a transaction is completely omitted from the books of accounts, No it wont effect the agreement of Trial Balance.
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LoginManagement: for analyzing the organization's performance and position and taking appropriate measures to improve the company results.
Employees: for assessing company's profitability and its consequence on their future remuneration and job security.
Owners: for analyzing the viability and profitability of their investment and determining any future course of action.
So, share holders of the company is owners...how can create this nonsense questions for exams..
If transactions omitted complete it will not effect trial balance....
Ex. Rent paid not recorded in journal, then there is no ledger posting