A sales for N2,570 was recorded in the sales day book as ...
A sales for N2,570 was recorded in the sales day book as N2750. The error committed was
Error of principle
Error of commission
Error of original entry
Compensating error
Correct answer is C
An error of original entry occurs when an incorrect amount is posted to the correct account. A particular example of an error of original entry is a transposition error where the numbers are not entered in the correct order. This type of error deals directly with the wrong use of figures
Use the following to answer the given question UCHENNA ENTERPRISES: Balance sheet as at 31st De...
Which of the following is correct about cost of goods sold? ...
When allotments have been fully paid, subscribers are referred to as ...
The correct entry to reflect the receipt of cash sent by a branch to a head office is ...
i. cash at bank ii. cash in hand iii. premises iv. land ...
Given: ..............Rich Social Club........... Cash.........................N100,000 Loan ........
The accounting entries required for increase in provision for doubtful debts are ...