ACCA FA · Chapter 10 · Question 1 of 12
Which of the following errors would cause the totals of a trial balance to disagree?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) A debit entry was posted, but the corresponding credit entry was omitted
Explanation
A single-sided entry means that total debits no longer equal total credits, so the trial balance does not balance. Errors of principle, complete omission and compensating errors all leave the debits and credits equal, so they are not revealed by the trial balance.
More Trial balance, errors, control accounts and bank reconciliations MCQs
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- Q5A company's draft profit for the year is $48,200. The following errors are then discovered: 1. Closing inventory was understated by…
- Q6The following information relates to a receivables control account for a year: Opening balance $42,800 Credit sales $310,500 Cash sales…
- Q7A receivables control account has a balance of $63,010, but the list of receivables ledger balances totals $61,490. The following errors…