Which of the following is not correct?
A)Errors which affect one account can be errors of posting
B)Errors of omission arise when any transaction is left to be recorded
C)Errors of carry forward from one year to another year affect both Personal and Real A/c
D)Errors of commission arise when any transaction is recorded in a fundamentally incorrect manner

Question

Quizplus · Accepted Answer

Errors of commission occur when a transaction is recorded incorrectly, but not necessarily in a fundamentally incorrect manner. They often involve mistakes such as recording the wrong amount or posting to the wrong account.

Which of the Following Is Not Correct