A discrepancy refers to a difference or inconsistency between two or more items, such as data, reports, or statements. It often indicates that there may be an error, misunderstanding, or variation in the information being compared. For example, if a company's financial report shows a profit of $10,000, but the bank statement reflects only $8,000, a discrepancy exists. Discrepancies can arise in various fields, including finance, science, and law. Identifying and resolving discrepancies is crucial for maintaining accuracy and trustworthiness in records and analyses. Addressing these differences helps ensure that decisions are based on reliable information.