This paper investigates the effects of non-identical ultrasonic transducers on reciprocity and zero-flow calibration in transit time flow meters. According to the theorem of reciprocity, there should not be any difference between the up- and downstream acoustic times of flight in a zero-flow situation. This would thus eliminate zero-flow estimation drifts. The flow meter is modeled as a one dimensional system with equivalent electrical circuits and simulated with simulation program with integrated circuits emphasis. The work shows that variations between the two transducers cause false estimates of flow and indicate which parameters have the largest influence. It indicates that reciprocity holds only for identical transducers.