3 Questions
Which type of error cannot be located by a trial balance?
Errors of principle
What type of error involves entering the wrong amount in a transaction?
Errors of commission
Which type of error involves forgetting to record a transaction?
Errors of omission
Study Notes
Errors in Accounting
- A compensating error cannot be located by a trial balance, as it is a mistake that offsets another mistake, resulting in a correct totals on the trial balance.
Types of Errors
- Error of commission: involves entering the wrong amount in a transaction.
- Error of omission: involves forgetting to record a transaction.
Test your knowledge on types of errors that cannot be located by a trial balance. Choose the correct response to identify the error type.
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