Chapter 6: Balancing Off the Accounts and the Trial Balance

Question 1

What are the 2 types of trial balance errors?

Answer 1

• Errors affecting the trial balance agreement.
• Errors not affecting the trial balance agreement.

Question 2

What are the types of errors that affect the trial balance agreement?

Answer 2

1. Single entry.
2. Error of transposition.
3. Error in addition
4. Posting to the incorrect side of the account.
5. Error in the trial balance.

Question 3

What are the types of errors that not affecting the trial balance agreement?

Answer 3

1. Error of omission.
2. Error of commission.
3. Error of principle.
4. Complete reversal of entries.
5. Compensating error.
6. Error of original entry.