Accounting for IGCSE & O level - Accounting Procedures (Section 22 - No. 44)
What is the effect of an error of omission?
The trial balance will be unbalanced.
The trial balance will remain balanced.
The debits and credits will be reversed.
The expenses will be overstated.
Explanation
An error of omission, where a transaction is entirely left out, will not affect the trial balance. The trial balance will continue to balance.
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