Purchase account is overcast by ₦200, while wages account is undercast by ₦200. This is
a
an error of omission
b
a compensating error
c
an error of commision
d
an error of principal
Explanation
Correct Option
bVideo Explanation
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Discussions (2)
Yricidri
4 years ago
The selected answer is wrong. It's option B. Compensating error deals with the debit and credit sides that may be undercast or overcast by the same amount.
Yricidri
4 years ago
The selected answer is wrong. it's option B.
compensating errors involves the debit and credit side that may be undercast or overcast by the same amount
