As a software tester certified by ISTQB (International Software Testing Qualifications Board), you are assigned to a project that involves developing a financial transaction system. During the testing phase, you encounter a software bug where the transaction summary screen occasionally displays incorrect amounts, although the actual transactions processed are correct.How does this impact:a. the bankb. their users (customers)State 1 impact with explanation for each of the above.

If the totals of a trial balance are not equal, it could be due to: Group of answer choices a failure to record or to post a transaction. recording the same erroneous amount for both the debit and credit parts of a transaction. an error in calculating the account balances. recording the transaction more than once.

If an incorrect amount is captured on the source document, this error will NOT be detected in the trial balance becauase the total debits and the total credits will still be equal.

The discrepancy between the ending balance on the bank statement and the balance in the depositor's cash account on the same day, is normally attributable to Blank______.Multiple choice question.bank errorstiming differencesdepositor accounting errors

The following statements relate to the business transactions topic. Choose all of the statements that are false:Question 3AnswerAll accrual accounting systems, no matter how simple or complex, follow the same basic recording rules.A numerical error in recording an item in the accounting system will become evident when the balance sheet does not balance.Generally speaking, business events are important and relevant for the entity but often lack the criteria to enable recording.Under ‘double entry’ accounting, all transactions will only affect a maximum of two elements in a business.An owner-related transaction that involves withdrawing inventory for personal use would affect the statement of cash flows.

The trial balance can help in detecting errors. Identify which of the following errors would be detected at the point of extracting a trial balance. 1-The bookkeeper enters cash received of Sh 50,000 from Peter Jones as a debit in the cashbook but enters the credit of Sh 50,000 in the ledger account of Roger Jones. 2-The bookkeeper enters a cash sale as a credit of Sh 4,000 in the cash book and as a debit of Sh 4,000 in the sales account. 3-The bookkeeper omits a cash sale of Sh 23,000 from the cash book and from the sales accounts. 4-The bookkeeper enters a cash sale as a debit of Sh 49,000 in the cash book and as a credit of Sh 94,000 in the sales account Choose: not possible to tell; will not be detected, trial balance will still agree; will be detected by the trial balance not agreeing; may or may not be detected