Errors cancelled by themselves are called
A)Compensating errors
B)Errors of principle
C)Errors of omission
D)Errors of commission

Question

Quizplus · Accepted Answer

Compensating errors are mistakes that occur in bookkeeping or accounting processes that cancel each other out. This means that one error is offset by another error of equal but opposite effect, leading to no net impact on the financial statements.

Errors Cancelled by Themselves Are Called