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if the effect of an error is cancelled by the effect of some other error,trial balance will agree.
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∙ 11y ago
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How trial balances balanced even with error?
These can be compensating errors.
How do you correct in the journal?
to correct an error made in the journal ( prior to posting in the ledger)
What is correction of error in accounting?
while noting the transactions we may commit mistakes unwillingly.or some times may forget some transactions.so we will get an error in the balance sheet.to balance it we will correct the error.
If someone is compensating what is it they are doing?
Compensating means you are providing something in place of something else. This could refer to compensating someone with money in exchange for their time, efforts, products or their work. Alternatively it can refer to someone perhaps doing favours for someone in place of contributing financially. It could also mean for example having a large expensive vehicle, but living in a park home (compensating for the lower standard of house with a higher standard of motor vehicle).
How are compensating balances reported?
They are reported within the discolsure notes to the financial statements. A material compensating balance must be disclosed regardeless of the classification of the cash. Classification depends on the nature of the restriction and the classification of the related debt.
How trial balances balanced even with error?
These can be compensating errors.
Errors that are not disclosed by trial balance?
compensating errors error of omission error of commission error of principles complete reversal of entries error of original entry
What is the name of the method of error checking that can correct an error in a single bit?
Error-Correcting Code or EEC
How do you spell slipping?
That is the correct spelling of the word "slipped" (made misstep or error).
What do you mean by error tracking in software engineering?
Find and correct the cause of error
What is the function of a master cylinder compensating port?
Type your answer here... Correct Answer: Allow for the normal expansion and contraction of brake fluid due to temperature changes
What do you do when you find an error in WikiAnswers?
If you think there is an error in answers on WikiAnswers, you can go in and correct them. You need to be careful and be sure that the existing answer is wrong and that what you are entering is correct.
Can we write Getting an error is it correct?
I prefer one of the following:I am getting an error. We are getting an error.I'm getting an error. We're getting an error.
Can i use itGetting an error is it correct?
I prefer one of the following:I am getting an error. We are getting an error.I'm getting an error. We're getting an error.
How do you say correct in Dutch?
Correct is the same as it is in English. It means that it is free from error.
What is the prefix of correct?
A prefix for correct is 'in'; incorrect means something is wrong, an error.
How do you correct in the journal?
to correct an error made in the journal ( prior to posting in the ledger)
