Advertisements
Advertisements
Question
What is meant by the error of complete omission?
Advertisements
Solution
It means the failure to record a transaction in the journal or subsidiary book or failure to post both the aspects in the ledger. This error affects two or more accounts.
APPEARS IN
RELATED QUESTIONS
A transaction not recorded at all is known as an error of ______.
What is meant by the error of partial omission?
Write a note on the error of principle by giving an example.
State the account/s affected in the following error:
The total of purchases book ₹ 4,500 was posted twice.
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?
If a transaction is completely missed in all books of accounts, which type of error is it?
Breaking accounting rules and misclassifying accounts is known as which type of error?
What is the correct method of rectifying two-sided errors once they are discovered?
An error that results from wrong posting, totalling, or balancing in the books is called:
