Accounting for IGCSE & O level - Accounting Procedures (Section 2 - No. 16)
Which of the following statements is correct about a compensating error?
It will cause the trial balance to be out of balance.
It will not affect the agreement of trial balance.
It involves errors that cancel each other out.
It always affects the profit or loss.
Explanation
It will not affect the agreement of trial balance and It involves errors that cancel each other out.
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