Errors That Affect The Trial Balance Flashcards Preview

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Flashcards in Errors That Affect The Trial Balance Deck (5)
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1

Addition Errors

In the trial balance itself or in a general ledger account

2

Posting Errors

Where one side of the transaction is posted to the wrong side of an account

3

Partial Omission Error

Where one side of the transaction is not posted

4

Unequal Posting Error

Where the debit side of the posting does not equal the credit side

5

Transposition Errors

Where, for example, one entry has been posted as £54 and another incorrectly transposed and posted as £45