If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

Related Mcqs:

Which of the following specialised journals will record “goods returned by the BUSINESS “?

A. Purchase journal B. Sales journal C. Purchases return journal D. Sales return journal...

Every business transaction affects at least ________ accounts?

A. One B. Two C. Three D. Infinite...

The beginnings inventory of the current year is overstated by 5,000 and closing inventory is overstated by 12,000. These errors will cause the net income for the current year by

A. 17,000 (overstated. B. 12,000 (understated. C. 7,000 (overstated. D. 7,000 (understated....

Insurance prepaid is shown as:___________?

A. Current Asset B. Current Liability C. Fixed Asset D. Income...

How many parties are generally found in a Bill of Exchange?

A. 4 B. 2 C. 3 D. 5...