TBOK errors Flashcards
1
Q
error of omission
A
transaction completely left out of the accounting system
2
Q
error of commission
A
entry in the wrong personal account (e.g. Blox and Blore)
3
Q
error of principle
A
entry in the wrong class of account
4
Q
reversal of entries
A
debits and credits round the wrong way in both accounts
5
Q
errors of original entry
A
if BOOE entry is wrong all postings from BOOE will be wrong
6
Q
compensating error
A
two different errors cancel each other out
