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- 1 Marks
Question
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
Answer: A
Explanation:
An error of principle involves misclassification of transactions, but it does not affect the arithmetic balance of the trial balance.
- Tags: Accounting Errors, Error of Principle, Trial Balance
- Level: Level 1
- Topic: Trial Balance: Usefulness and Limitations
- Series: MAY 2015
- Uploader: Joseph