Which of the following errors will be disclosed in the preparation of a trial balance?

Recording transactions in the wrong account.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Duplication of a transaction in the accounting records.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Posting only the debit portion of a particular journal entry.

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Recording the wrong amount for a transaction to both the account debited and the account credited.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Posting only the debit portion of a particular journal entry.
Option C is the correct answer.

Financial accounting is based on double entry system of accounting. For every debit there will be a credit and vice versa. As every transaction is giving affect in debit and credit both, the trial balance must agree.

Posting only the debit portion of a journal entry is an error of commission, and such situation trial balance will not balanced. Credit total will be short by the amount which is missed out in posting.

Suggest Corrections

Similar questions

Ananya withdrew Rs. 2,000 per month for personal use, recording each transaction as a debit to her drawing account and a credit to her cash account. The journal entry closing the drawing account requires a credit to _______ account & debit to _______ account.

Q. The accounting system which records both the aspects i.e. debit and credit, of all the transactions is known as _____________.

Give one word/term on phrase for each of the following statements.

1) Errors of incorrect entries or wrong posting.
2) Account to which difference in trial balance is transferred.
3) Errors which are committed by clerks.
4) Transaction remained to be recorded at all in the books of accounts.
5) Error in which the effect of one mistake is nullified by another mistake.
6) An entry passed to cancel wrong effects given and give correct effects to accounts affected.
7) Errors of calculation.
8) Error which affects the agreement of trial balance.
9) Error which are not disclosed by the trial balance.
10) Taking the Total more while closing books of accounts

Q. Give one word / term or phrase for each of the following statements.

(1) A book of original entry.
(2) The process of recording transactions in the journal.
(3) Brief explanation of an entry.
(4) The French word from which the word journal is derived.
(5) Entry in which more than one account are to be debited or credited.
(6) Anything taken by proprietor from business for his personal use.
(7) Amount of money payable to broker while buying and selling the shares and securities.
(8) Entry in which one account is debited and another account is credited
(9) The column in journal, which is not filled at the time of Journalising.
(10) An account that is debited when rent is paid to landlord.

State whether the following statements are True or False.

1) Prepaid insurance is nominal account.
2) Personal transactions of proprietor are recorded in the books of account of business.
3) Every debit has equal and corresponding credit.
4) Loan account is personal account.
5) Drawing account is a real account.
6) Commission received is a nominal account.
7) Outstanding wages is a nominal account.
8) Bank of India is an example of real account.
9) An order placed for the goods, entry is passed/recorded in the book of account.
10 Every transaction has only on effect

Join BYJU'S Learning Program