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Briefly explain the major errors

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"Once the Trial Balance agrees, it is assumed that it contains no arithmetical errors or mistakes. At times the Trial Balance may agree and yet contain arithmetical errors".

(a) Define Trial Balance.

(b) What do you understand by the statement in quote above?

(c) Briefly explain the five major errors that do not affect the balancing of the Trial Balance.

Reference no: EM13513242

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