Joan is employed to Greendale, a small business in which she does all the accounting for the business.At the end of the most recent period, the trial balance extracted from the ledgers was balanced.Joan was elated as she tells you that this means her books are error free and she can now proceed to preparing her final accounts.

Advise Joan of the possible flaw in her statement.

Rubric

Introduction1 mark

Content7 marks

Conclusion2 mark