Errors which affect one account can be _____________.

Errors of omission

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Errors of principle

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Errors of posting

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None of the above

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Solution

The correct option is D Errors of posting
Option C is the correct one.
Error of posting affects only one account.
Posting is a process of transferring the amount of debit and credit to the respective ledger from the journal. Both the sides i.e.debit and credit need to be posted into the ledger.
If one account is missed out in posting, it is an error of posting. In such case trial balance will not match.

Suggest Corrections

Similar questions

Q. Match List-I with List-II and select the correct answer using the codes given the lists.

List-I	List-II
I. Compensating errors	(a) Not recording a business transaction
II. Errors of omission	(b) Charging a Revenue item to capital
III. Errors of principle	(c) Writing a debit item on the credit side and a credit item on the debit side of equal amount
IV. Errors of commission	(d) Posting a correct amount to a wrong account

Errors that affect one account will affect the agreement of the Trail balance. If the errors cannot be located immediately and rectified, then the difference in trial balance is kept in a separate account called ___

State whether the following statements are True or False-

1) A trial balance can agree in spite of certain errors.
2) Errors committed due to lack of accounting knowledge are errors of omission.
3) Trial balance is prepared from the balance of ledger accounts.
4) Rectification entries are passed in cash book.
5) Single sided errors affect only one account.
6) Suspense account is automatically closed after rectification of all errors.
7) Errors affecting the agreement of trial balance are called on side errors.
8) There is no need to open a suspense account if the trial balance agrees.
9) All the errors can be rectified only through suspense account.
10) Compensating errors affect the agreement of trial balance.

Q. Errors which affect only one account can be __________.

Q. Which of the following account(s) will be affected, while rectifying the error of a purchase return of Rs.

200

to Mr."A" entered in sales book instead of purchase return book?

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