Types Of Errors Flashcards
1
Q
Error Of Commission
A
An entry is made in the wrong account of the right type.
2
Q
Error Of Omission
A
An entry is missed out completely
3
Q
Error Of Principle
A
An entry is entered in the wrong type of account
4
Q
Reversal Of Entries
A
Double Entry is done the wrong way round
5
Q
Error of Original Entry
A
An error in a book of original entry which results in the double entry being incorrect
6
Q
Compensating Error
A
One mistake is cancelled out by another mistake
