Q$-1-$ Discuss the principles of revenue recognition in accounting. How does it contribute to the accuracy of financial statements?

Or

Q$-1-$ Does trial balance ensure arithmetical accuracy of books of accounts? Also discuss errors that are disclosed and not disclosed by trial balance by giving suitable examples $(6$ marks$)$

Q$-2-$Alicia Thomson started a company on April $1,2024.$ The company prepares quarterly financial statements. The trial balance amounts as on June $30$ is mentioned below:

$\backslash$table$[[$Alicia Thomson Movers Pvt$.$ Ltd$.,],[,$Trial Balance as on June $30,2023],[$Particulars$,6700,$Particulars,Credit,$],[$Cash$,600,\backslash$table$[[$Accumulated Depreciation$-],[$Equipment$]],850,],[$Accounts Receivable,$900,$Notes Payable,$5000,],[$Prepaid Rent,$1000,$Accounts Payable,$1510,],[$Supplies$,15000,$Salaries Payable,$400,],[$Equipment$,600,$Interest Payable,$50,],[$A Thomson Drawings,$9400,$Unearned Revenue,$500,],[$Salaries Expense,$1500,$A$.$ Thomson Capital,$14000,],[$Rent Expense,$850,$Service Revenue,$14200,],[$Depreciation Expense,$200,$Interest Revenue,$800,],[$Supplies Expense,$510,,,],[$Utilities Expense,$50,,37310,],[$Interest Expense,$37310,,,],[$Total$,,,,]]$