Financial Statements – II · Class 11 · CBSE · Commerce Accountancy
Which of the following errors will be disclosed by the preparation of a Trial Balance, but affects the final accounts if not rectified?
Practice question from Financial Statements – II (Class 11 · CBSE · Commerce Accountancy), with the correct answer and a step-by-step solution.
hard · MCQ · Q-988FE7
Which of the following errors will be disclosed by the preparation of a Trial Balance, but affects the final accounts if not rectified?
- A.Error of complete omission
- B.Error of posting an amount to the wrong account of the same class
- C.Recording an incorrect amount in the original book of entry
- D.Posting a correct amount on the wrong side of an account causing a trial balance disagreementCorrect answer
Solution
Posting an amount on the wrong side of an account causes debit and credit totals to disagree, which is revealed by the trial balance. Errors of omission, wrong account posting of the same class, and incorrect original entry do not cause trial balance disagreement.
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