Limitations of a Trial Balance

Limitations of a Trial Balance - 4 incorrect accounts are...

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Limitations of a Trial Balance The trial balance may balance even when 1. a transaction is not journalized, 2. a correct journal entry is not posted, 3. a journal entry is posted twice,
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Unformatted text preview: 4. incorrect accounts are used in journalizing or posting, or 5. offsetting errors are made in recording the amount of a transaction....
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