Correction Of Errors

Question 1

Error of ommison

Answer 1

Complete missed out , not recorded

Question 2

Error of complete reversal

Answer 2

Opposite debating and crediting the wrong accounts

Question 3

Error of original entry

Answer 3

Number wrong , enereeing the wrong amount of money eg purchased stationary for 45 recorded for 39

Question 4

Compensating errors

Answer 4

Keywords “ overcasted/undercasted” E g overstating something by 50

Question 5

Error of commission

Answer 5

Same nature same category eg debetor celine debetor safa , both debet both assets

Question 6

Error of principle

Answer 6

Same nature different category , repairs ( expense ) and moter vehicals( asset) different category byt u debit both of them