Which of the following statements is/are true?
(i) An error in casting the subsidiary books is an error of commission
(ii) An error in wrong casting of the sales day book will not affect the personal accounts of debtors
(iii) Mistake in transferring the balance of an account to the Trial Balance will not affect the agreement of the Trial Balance
(iv) The mistake of treating a liability as an income or vice versa will not affect the agreement of a Trial Balance
A)Only (i) above
B)Only (ii) above
C)Both (i) and (ii) above
D)(i),(ii) and (iv) above

Question

Quizplus · Accepted Answer

- (i) An error in casting the subsidiary books is indeed an error of commission, which involves errors in recording transactions, calculating totals, or posting entries.- (ii) An error in wrong casting of the sales day book affects the total sales figure but does not directly alter the individual balances of debtors' personal accounts.- (iv) Mistaking a liability for an income or vice versa affects the nature of the accounts but does not impact the overall balance of the Trial Balance, as both sides still sum up to the same total, maintaining the agreement.

Which of the Following Statements Is/are True