Errors not revealed in the trial balance

Question 1

Error of Commission

Answer 1

The posting of a debit or credit to the correct side of the ledger but to a wrong account

Question 2

Compensating Error

Answer 2

These are unconnected errors which by concidence cancel out.

Question 3

Error of Principle

Answer 3

This is where an item is entered in the wrong type of account

Question 4

Complete reversal of entries

Answer 4

this is where the correct amounts are entered in the correct accounts but in the wrong side of the accounts.

Question 5

Errors of Original Entry

Answer 5

These occur where the original amount entered is incorrect.