Which of the following errors does NOT affect the trial balance? MCQ with Answer and Explanation

Which of the following errors does NOT affect the trial balance?
A. Wrongly totaling an account
B. Recording a transaction twice
C. Posting ₹500 to the wrong account
D. Omitting to post one side of a transaction
Answer: Option C
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.

Discuss this Question (0)

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

Practice More Accountancy and Book Keeping Questions

Question #1
A 'Provision' is recognized when:
A. For all future losses
B. There is a present obligation, probable outflow, reliable estimate
C. Management decides
D. It is certain

Correct Answer: Option B


Explanation:
As per AS 29, provision is recognized when these three conditions are met.

Question #2
A company's current ratio is 2:1. If current liabilities are ₹1,00,000, current assets are:
A. ₹3,00,000
B. ₹2,00,000
C. ₹50,000
D. ₹1,00,000

Correct Answer: Option B


Explanation:
Current ratio = Current assets / Current liabilities; 2 = CA / 1,00,000 => CA = ₹2,00,000.

Question #3
Under Activity Based Costing (ABC), costs are allocated based on:
A. Cost Drivers
B. Machine Hours
C. Volume of Production only
D. Direct Labor Hours

Correct Answer: Option A


Explanation:
ABC traces overheads to specific activities and allocates them to products based on the consumption of 'cost drivers'.