Question Tag: Error of Principle

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  • 1 Marks

FA – MAY 2015 – L1 – SA – Q13 – Trial Balance: Usefulness and Limitations

Identify the type of error that does not affect the balancing of the trial balance.

Which of the following errors does NOT affect the balancing of a trial balance?
A. Error of principle
B. Casting error
C. Transposition error
D. Duplication of entries
E. Missing entries in the ledger

Answer: A
Explanation:
An error of principle involves misclassification of transactions, but it does not affect the arithmetic balance of the trial balance.

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