A Senior Manager at a large branch notices that the 'Trial Balance' generated by the Core Banking System at the end of the day is not tallying, showing a difference of ₹5,00,000 in the credit side. Upon investigation, it is found that a clerk attempted to post a cash deposit transaction but the system hanged during the process. The clerk then restarted the terminal and entered the transaction again. However, the first attempt had partially updated the Cash Account but not the Customer's Ledger. Considering the principles of 'Accounting in Computerized Environment', which of the following describes the most likely cause of this error and the correct rectification step?

Question

Accepted Answer

The error was a failure of the 'Atomicity' property of the database; the IT department must perform a database reconciliation and rollback the partial entry.

Answer

The clerk should simply delete the second entry to make the books match.

Answer

The error is a 'Compensating Error' and will be automatically fixed when the End of Day (EOD) process runs.

Answer

The error was caused by a failure of the 'Dual Control' mechanism; the manager should manually debit the cash account.

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