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प्रश्न
What is meant by the error of principle?
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उत्तर
It means the mistake committed in the application of fundamental accounting principles in recording a transaction in the books of accounts.
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संबंधित प्रश्न
A transaction not recorded at all is known as an error of ______.
Wages paid for installation of machinery wrongly debited to wages account is an error of ______.
What is meant by the error of complete omission?
What are compensating errors?
Write a note on the error of principle by giving an example.
Which type of error affects only one side (debit or credit) of a single account and usually causes a difference in the trial balance?
What is the main impact of two-sided errors, such as errors of principle or compensating errors, on the trial balance?
Which kind of error happens when both a debit and an equivalent credit mistake occur, effectively cancelling each other out?
If a transaction is completely missed in all books of accounts, which type of error is it?
When a transaction is recorded in one book but not posted to the related account, which type of error does this represent?
