A sales for N2,570 was recorded in the sales day book as ...
A sales for N2,570 was recorded in the sales day book as N2750. The error committed was
Error of principle
Error of commission
Error of original entry
Compensating error
Correct answer is C
An error of original entry occurs when an incorrect amount is posted to the correct account. A particular example of an error of original entry is a transposition error where the numbers are not entered in the correct order. This type of error deals directly with the wrong use of figures
The main difference between the ordinary and preference shareholders is that? ...
Given: PTF Trial Balance [Extract] as at 31 December, 1999 Dr Cr N'000 N '000 Cash 2,0...
Carriage outwards is accounting term for amount spent on ...
Which of the following is the least liquid? ...
Which of the following is used to derive missing figures in a system of incomplete records? ...