Which of the following errors does NOT affect the trial balance?
A. Wrongly totaling an account
B. Omitting to post one side of a transaction
C. Recording a transaction twice
D. Posting ₹500 to the wrong account
Answer: Option D
Solution (By JKSSB Mock Tests)
Posting to the wrong account (error of principle or wrong personal account) keeps the debit and credit totals equal, so the trial balance still agrees.
Explanation:
Interest paid on debentures represents a return on capital provided by debentureholders, hence it is classified under Financing Activities.
A petty cashier is given Rs 2,000 as float. He spends Rs 1,750 during the month. Under the imprest system, how much will he receive at the start of the next month?
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