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ACC5202 Accounting Principle

tag 0 Download 15 Pages / 3,559 Words tag 03-11-2020


Question 1
A. A student was overheard to say “The trial balance is a very important report. If the Trial Balance ‘balances’ the books are correct!” Comment on the statement (i) that the Trial Balance is a very important report and why, and (ii) whether it is correct to assume that the books are correct. Give 2 examples to either support or disprove this statement. 
B. As a graduate accountant you are confronted with the following task in your first job. Your boss informs you that the Trial Balance as at 31st December 2018 does not balance and asks why? You discover a number of errors and in order to correct the Trial Balance
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Total 15 pages

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