Mallam Gambo bought a freezer for his shop costing N10,500. In recording, he debited office expenses account and credited the bank account. What book-keeping error has he committed?
Error of commission
Error of reversal of entries
Error of principle
Compensating error
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Discussions (17)
Yea,d correct answer is c.because we ave 6 type of error and this are d er that kan't affect the balance of d trial balance,which are error of principle this deals with d class of account,error of omission which means when a transaction is completely omited 4rm d debit and credit side of an account,error of original entry which deals with incorrect amount,error of commission this deal with incorreact account name,error of complete reversal entry deal with wrong side of account and compesating error deal with when d credit side or debit side is undercast or overcast:4 MORE INFORMATION ABOUT ME CONTACT ME ON DIS NUMBER:08164164668
C is correct because error of principle has to do with two different types of account and freezer is a real account while expenses is a norminal account
To those confuse pls note that Error of reversal of entries occurs when you debit what you should have originally credited and credit what you should have orignially debited, while Error of commission is Wrong totaling, Recording with wrong amount, Wrong posting while Compensating error is Where two errors of equal amounts, but on opposite sides of the accounts, cancel each other out
To those confuse pls note that Error of reversal of entries occurs when you debit what you should have originally credited and credit what you should have originially debited, while Error of commission is Wrong totaling, Recording with wrong amount, Wrong posting while Compensating error is Where two errors of equal amounts, but on opposite sides of the accounts, cancel each other out
C is the correct answer,because the item was recorded in the wrong class of account
Yeap, the correct answer is C coz Error of Principles indicate wrong class of Account
confirm option c is d correct ans coz it the transactn involve in wrong clas of acct
Item wrongly record(ed) concerning two diff acount is error of principle contact me on my mail box aygidion@gmail.com
option C is very correct cos he was suppose to cr the cash account but instead credited the bank that wasn't even in the transaction process
@hendris dnt xay for those who ar confuse becuz u may know one nd u wl nt knw the order after wards this iz a very simple question nd we ar all here to learn
