Podcast
Questions and Answers
Which type of error occurs due to wrong allocation between capital and revenue expenditure?
Which type of error occurs due to wrong allocation between capital and revenue expenditure?
- Errors of Principle (correct)
- Compensating Errors
- Clerical Errors
- Error of Omission
What type of error is committed by not recording a transaction either in the book of original entry or in the ledger book?
What type of error is committed by not recording a transaction either in the book of original entry or in the ledger book?
- Clerical Errors
- Compensating Errors
- Error of Omission (correct)
- Errors of Principle
What are errors of duplication primarily caused by?
What are errors of duplication primarily caused by?
- Double posting of a transaction from journal to ledger (correct)
- Wrong allocation between capital and revenue expenditure
- Errors committed while recording or posting a transaction
- Posting wrong amounts
What is the term for two or more errors which mutually compensate the effects of one another?
What is the term for two or more errors which mutually compensate the effects of one another?
What is the term for errors committed while recording or posting a transaction, such as posting wrong amounts or posting on the wrong side?
What is the term for errors committed while recording or posting a transaction, such as posting wrong amounts or posting on the wrong side?
What is the primary objective of auditing?
What is the primary objective of auditing?
According to Prof. L.R. Dicksee, how does he define auditing?
According to Prof. L.R. Dicksee, how does he define auditing?
What are the secondary/Incidental objects of auditing?
What are the secondary/Incidental objects of auditing?
What is the definition of auditing according to International Auditing Guidelines?
What is the definition of auditing according to International Auditing Guidelines?
What are the different types of errors in accounting?
What are the different types of errors in accounting?
