Accounting Multiple Choice Question – 21 April 2024

Which of the following errors would still result in a balanced trial balance?

Select ONE answer:

1. The opening inventory balance was omitted from the nominal ledger.
2. A transposition error was made when posting cash received from a credit customer to the receivables ledger.
3. The discounts received balance was listed as a debit on the trial balance.
4. The total column of the cash payments book was miscast.

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Notcorrect
2. Correct  –  As the receivables ledger is not part of the nominal ledger a transposition error made when posting cash received from a credit customer to it does not affect the nominal ledger.
3. Not correct
4. Not correct

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