Had to check my layout for track voltage the other night and took some readings with my DVM. It's an old, but good one - probably 30 years old from Sears back in the day when I was doing a lot of r/c racing.
I use a Z-4000 transformer set to 18 volts as shown on the LCD display, but the DVM was showing over 20 volts at the track, so I suspected something might be wrong with the Z-4000's output. Then I thought that reading was way beyond what I figure is a reasonable tolerance/variance for the transformer, so I decided to check the DVM first.
Unscrewed the case back and noticed the rectangular 9 volt battery had a lot of white corrosion around one of the battery terminals and the DVM connector. I went to unplug the connector from the battery and the battery lug actually snapped off the battery and stuck to the connector post ! I was able to snap it off with a flat-bladed screwdriver and then cleaned the connector terminals with a wire brush and some CRC contact cleaner. I installed a new 9 volt battery and it works fine now and the voltage shown matches the transformer display.
Lesson learned.