Errors which affect only one account is _____.

Errors of omission

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Errors of principle

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Errors of posting

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Errors of commission

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Solution

The correct option is C Errors of posting
Option C is the correct answer.

An error in which amount is posted to the wrong side of the same account is known as error of posting.
The error which affect only one account can be rectified by giving an explanatory note in the account affected.
The errors which affect only one account are: Error of casting, error of carrying forward, error of balancing, error of posting.

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Similar questions

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

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 one side of an account are called _________.

Q. State whether the following statement is True or False:-
Single sided errors affect only one account.

Q. Errors which affect one account can be _____________.

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