Yes, Agree this statement.
The fundamental principle of the double-entry system of book-keeping is that every debit has a corresponding and equal credit and vice versa. Therefore, the total of the debit balances must be equal to the total of the credit balances. When such agreement between the total of all debit balances and the total of all credit balances takes place, it offers an immediate and apparent proof of arithmetical accuracy of the book-keeping work on a particular day. At the same time, it should not be taken as the conclusive proof of arithmetical accuracy as certain errors, such as error of principle compensating errors and complete omission of a transaction are not disclosed by the trial balance.

The following are the limitations of trial balance.
(i) It is possible to prepare trial balance of an organisation, only if the double entry system is followed.
(ii) Even if some transactions are omitted, the trial balance will tally.
(iii) Trial Balance may tally even though errors are committed in the books of account.
(iv) If trial balance is not prepared in a systematic way, the final accounts prepared on the basis of trial balance may not depict the actual state of affairs of the concern.
(v) Agreement of trial balance is not a conclusive proof of the arithmetical accuracy of entries made in the accounting records.

Trial balance is prepared with the following objectives:
(i) Test of arithmetical accuracy:
Trial Balance is a means by which the arithmetical accuracy of the book-keeping work is Checked.
(ii) Basis for preparing final accounts:
Financial statements, namely, trading and profit and loss account and balance sheet are prepared on the basis of summary of ledger balances obtained from the trial balance.
(iii) Location of Errors:
1) When the Trial balance does not tally, it is an indication that certain errors have occurred.
2) The errors may have occurred at one or more of the stages of the accounting process, namely, journalising or recording in subsidiary books, totalling subsidiary books, posting in ledger accounts, balancing the ledger accounts, carrying ledger account balances to the trial balance, totalling the trial balance columns, etc.
(iv) Summarised information of Ledger Accounts:
1) The summary of ledger accounts is shown in the trial balance.
2) Ledger accounts have to be seen only when details are required in respect of an account

Following are the features of trial balance:
(i) Trial balance contains the balances of all ledger accounts.
(ii) It is prepared on a specific date.
(iii) Trial balance helps to check the arithmetic accuracy of entries made in the books of accounts.
(iv) If there is a difference between the totals of debit column and credit column of the trial balance, it is an indication of errors being committed somewhere.
(v) If both the debit column and the credit column of the trial balance have the same total, it does not mean that there is no mistake in accounting.

Value of trust is being violated by the accountant by passing a dummy entry and not even informing the seniors about it.

The debit side of the trial balance will be more by Rs. 10,000.

Trial balance is a Statement, showing the names and balances of all the accounts in the ledger and cash book.

A trial balance can be prepared in the following methods.
(i) Total Method
(ii) Balance Method.
(iii) Total and Balance Method

Trial balance is prepared in the following format under the balance method.
Trial balance As on...............

                                Trial Balance