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The errors of omission may be committed at the time of recording the transaction in the books of original entry or while posting to the ledger. These can be of two types: (i) error of complete omission - When a transaction is completely omitted from recording in the books of original record, it is an error of complete omission. Such error do not affect the trial balance (ii) error of partial omission - When the recording of transaction is partly omitted i.e. both the debit and credit aspect of the transaction is not recorded in the books, it is an error of partial omission. Such error will impact the trial balance as the debit and credit balances will not match. When two or more errors are committed in such a way that the net effect of these errors on the debits and credits of accounts is nil, such errors are called compensating errors . Such errors do not affect the tallying of the trial balance
Disguised unemployment exists primarily in the ________ sector in our country.
IndraGraminAwaas Yojana launched by which Ministry?
What is true about Mixed Economy?
1) The mixed economy combines both the features of a socialist and capitalist economy.
2) An arguabl...
Which of the following is/are true regarding Pradhan Mantri Awaas Yojana — Gramin?
1) Cost of unit assistance to be shared between Central a...
Which of the following is/are the objectives of Special Economic Zone (SEZ)?
Benefits of Sustainability are?
1) encourages investors interested in working with companies with long-term sustainability plans
2) l...
Which of the following Statements is/are True?
I. D-SIIs are perceived as insurers that are ‘too big or too important to fail’ (TBTF...
Which of the statements are correct?
1) Process of disinvestment is very fast
2) Process of disinvestment is very slow and government alwa...
With a vision to make India an energy-independent nation, and to de-carbonise critical sectors, the Government approved the National Green Hydrogen Miss...
Scarcity of capital, unemployment and technological backwardness are generally found in ________ economies.