Give one Word/Term or Phrase for each of the following statements.
Errors of incorrect entries or wrong posting.

Open in App

Solution

Error of Commission
An error of commission is related to wrong recording or posting of the amount in the same account or different accounts, wrong totaling, etc. Thus, all the errors related to recording or posting of incorrect entries are termed as errors of commission. It is also known as a two-sided error, i.e. this type of error does not affect the trial balance. For example, goods worth Rs. 5,600 sold to X were recorded in the journal as Rs. 6,500 and also posted as Rs. 6,500. Hence, it is termed as an error of commission and will not affect the agreement of the trial balance.

Suggest Corrections

Similar questions

Q. Give one Word/Term or Phrase for each of the following statements.
An entry passed to cancel wrong effects given and give correct effect to accounts affected.

Q. Give one Word/Term or Phrase for each of the following statements.
Passing an entry in the books of original entry.

Give one word/term on phrase for each of the following statements.

1) Errors of incorrect entries or wrong posting.
2) Account to which difference in trial balance is transferred.
3) Errors which are committed by clerks.
4) Transaction remained to be recorded at all in the books of accounts.
5) Error in which the effect of one mistake is nullified by another mistake.
6) An entry passed to cancel wrong effects given and give correct effects to accounts affected.
7) Errors of calculation.
8) Error which affects the agreement of trial balance.
9) Error which are not disclosed by the trial balance.
10) Taking the Total more while closing books of accounts

Q. Give one Word/Term or Phrase for each of the following statements.
Errors of calculation.

Q. Give the word term or phrase which can substitute each of the following statements :

System in which entry is recorded for cash as well as credit transactions.

Join BYJU'S Learning Program

Give one Word/Term or Phrase for each of the following statements.Errors of incorrect entries or wrong posting.

Give one Word/Term or Phrase for each of the following statements.
Errors of incorrect entries or wrong posting.