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Erroneous real arrangement of financial figure such as writing N624 as N264 is called?

Commerce
JAMB 2018

Erroneous real arrangement of financial figure such as writing N624 as N264 is called?

  • A. ommission
  • B. commission
  • C. transposition
  • D. principle
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Correct Answer: Option C
Explanation

A transposition error is a simple error of data entry that occurs when two digits that are either individual or part of a larger sequence of numbers are accidentally reversed (transposed) when posting a transaction. Although this type of error is often small and unintentional, it can result in huge financial losses in some instances. A transposition error is simply substituting two sequential digits. For example, the number 78 for 87 or 1346 for 1436.


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