Home
Class 11
ACCOUNTS
Balancing of account means total of debi...

Balancing of account means total of debit and credit side.

Text Solution

Verified by Experts

False,
reconciliation of account doesn't mean total of debit and credit. reconciliation means that to search out out the reconciliation figure of the account. The distinction between the add of 2 sides is understood as balance which is able to be carried forward to succeeding year.
Promotional Banner

Topper's Solved these Questions

  • RECORDING OF TRANSACTIONS-II

    NCERT|Exercise SHORT ANSWERS|11 Videos
  • RECORDING OF TRANSACTIONS-II

    NCERT|Exercise LONG ANSWERS|6 Videos
  • RECORDING OF TRANSACTIONS-II

    NCERT|Exercise FILL IN THE CORRECT WORDS :|11 Videos
  • RECORDING OF TRANSACTIONS-I

    NCERT|Exercise Long|7 Videos
  • THEORY BASE OF ACCOUNTING

    NCERT|Exercise All Questions|18 Videos

Similar Questions

Explore conceptually related problems

Rules Of Debit And Credit