A

Admin • 833.24K Points
Coach

Q. Sales to Mohan were wrongly recorded as purchase. This is:

  • (A) Error of Commission
  • (B) Error of Principle
  • (C) Error of Omission
  • (D) Compensating Error
  • Correct Answer - Option(B)
  • Views: 23
  • Filed under category Accounting
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Explanation by: Admin

Error of principle occurs when a transaction is recorded under the wrong type of account.

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