Two types of common errors in bookkeeping are errors of principle and errors of transposition.Which of the following correctly states whether or not these errors will be revealed by extracting a trial balance?Errors of principle Errors of transposition
A、Will be revealed Will not be revealed
B、Will be revealed Will be revealed
C、Will not be revealed Will not be revealed
D、Will not be revealed Will be revealed
A、Will be revealed Will not be revealed
B、Will be revealed Will be revealed
C、Will not be revealed Will not be revealed
D、Will not be revealed Will be revealed
【参考答案及解析】
Errors of principle, such as recording a capital expenditure transaction as revenue expenditure, would not be revealed by a trial balance because it would not create an inequality between total debits and total credits. Transposition errors are errors where figures (digits) are written in the wrong order in either a credit or a debit entry. This would create an imbalance between credits and debts, and so the error would be indicated by extracting a trial balance.
Errors of principle, such as recording a capital expenditure transaction as revenue expenditure, would not be revealed by a trial balance because it would not create an inequality between total debits and total credits. Transposition errors are errors where figures (digits) are written in the wrong order in either a credit or a debit entry. This would create an imbalance between credits and debts, and so the error would be indicated by extracting a trial balance.