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Rectification of Errors — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyRectification of Errors2 Marks
Question
Errors of principle are not disclosed by the Trial Balance.
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Answer

This statement is True.
The error of Principle is those where some basic principles of bookkeeping and accountancy are not Properly Followed while recording a business transaction. Such errors can be rectified by passing journal entries.
Eg.: Capital expender showed as revenue expenditure or vice versa. It won’t affect the Trial balance. If will agreed.

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