General errors in accounting
Write down the general errors in accounting? To locate errors what steps will you follow?
Expert
The general errors in accounting which are illustrated below:
i) Compensating Errorii) Errors of Principleiii) Errors of Commissioniv) Errors of Omission
To locate the errors follow the below steps:
i) Ensure the total of all the cash books, subsidiary book and trial balance.ii) Check that all the opening balances are correctly brought forward in the present year’s books of account.iii) Check that all the ledger accounts are properly balanced and the balances of all the ledger accounts have been shown in the Trial Balance.iv) The difference in trial balance must be half to locate these errors.v) When the difference in the trial balance is divisible by nine devoid of any reminder, it might point to the transplacement or transposition of the amounts.v) The trial balance of the present year can be compared through the trial balance of the preceding year to locate specific highlighting error.
What do you mean by the term Organizational Adaptation in understanding the human behavior?
What do you understand by the word ‘Risk analysis?
Write down the process of conducting an employee feedback?
List out the steps necessitated having a good distribution program?
Briefly describe the term debit and credit note?
What are the heavy pressures on company managers to beat or meet earnings targets?
Why is strategy execution for tying rewards and incentives important?
Briefly describe the qualities of useful market segments?
What is the Hawthorne Studies of organizational behavior to the present age? Briefly describe it.
What is a Guerrilla Offensives Strategy?
18,76,764
1934641 Asked
3,689
Active Tutors
1418632
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!