Advertisements
Advertisements
Question
What is meant by the error of partial omission?
Advertisements
Solution
When the accountant has failed to record a part of the transaction, it is known as an error of partial omission. This error usually occurs in posting. This error affects only one account.
APPEARS IN
RELATED QUESTIONS
Errors not affecting the agreement of trial balance are ______.
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 principle?
What are compensating errors?
Write a note on the error of principle by giving an example.
Which kind of error happens when both a debit and an equivalent credit mistake occur, effectively cancelling each other out?
Breaking accounting rules and misclassifying accounts is known as which type of error?
An error that results from wrong posting, totalling, or balancing in the books is called:
Which statement best summarizes the key differences between one-sided and two-sided accounting errors?
