Which error will cause a mismatch in trial balance? MCQ with Answer and Explanation

Question

Share Report Error

Which error will cause a mismatch in trial balance?

A. Error of omission of a transaction completely

B. Compensating errors

C. Posting a correct amount on the wrong side of an account

D. Error of principle

Answer: Option C

Solution (By JKSSB Mock Tests)

Posting on the wrong side causes one side to be more/less, making totals unequal.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

Share Report

The 'Discount Rate' for measuring defined benefit obligation under Ind AS 19 is determined by reference to:

A. Fixed rate

B. Expected return on plan assets

C. Incremental borrowing rate

D. Market yields on government bonds at the reporting date

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
The discount rate reflects the time value of money; usually based on high-quality corporate bonds or government bonds.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

Share Report

The 'Monetary Unit Sampling' (MUS) is a:

A. Random number sampling

B. Non-statistical method

C. Statistical sampling method that uses value-weighted selection

D. Haphazard selection

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
MUS selects sample items based on monetary units, focusing on larger values.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

Share Report

The 'Emphasis of Matter' vs 'Other Matter' paragraph: Emphasis of Matter refers to:

A. Scope limitation

B. Matters not presented or disclosed in the financial statements

C. Matters that require a modified opinion

D. Matters appropriately presented or disclosed in the financial statements that are fundamental to users' understanding

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Emphasis of Matter highlights a note/disclosure already in financial statements.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Explore All Accountancy and Book Keeping MCQs