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Items Excluded in GDP

A purchase of...

Question

A purchase of Rs. 10,000 has been wrongly posted to the credit of sales Account but had been correctly entered in the Supplier's Account. This is an error of ______.

A

Omission

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B

Commission

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C

Principle

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D

Compensating

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Solution

The correct option is D Commission
Error of commission means wrong posting of the balance or wrong total. These kind of errors may affect the balancing of the Trial Balance.
Therefore, this example is related with error of Commission.

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