Answer in One Sentence: What is meant by error of principle? - Book Keeping and Accountancy

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One Line Answer

Answer in One Sentence:

What is meant by error of principle?

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Solution

In the books of accounts when transactions are recorded without following the accounting principles and/or rules, is known as error of principle.

Concept: Types of Errors-Errors of Principles
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Chapter 8: Rectification of Errors - Exercises [Page 266]

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Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 8 Rectification of Errors
Exercises | Q 1. 2) | Page 266
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