Where a wrong figure occurs in only one account with the ...
Where a wrong figure occurs in only one account with the second figure correctly stated, this is an error of
Transposition
Compensation
Omission
Commission
Correct answer is A
A transposition error is a data entry error that occurs when two digits are accidentally reversed. It is where a bookkeeper accidentally reverses two adjacent digits, when recording transactional data.
On the 30/5/93 Tolu & Co. paid 2 years rent of N50,000 which was debited to the rent account.&nb...
A business operates on a mark-up of 25%. If cost of goods sold is N800,000. What is the profit? ...
Outstanding rent of N300 is paid by the proprietor. The effect on the balance sheet is that ...
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditor...
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \t...
Use the following information to answer the given question \(\begin{array}{c|c} \text{Opening s...
A set of instrument or programs which controls the operation of a computer is ...