Question

One sided errors are:

• A. Errors affecting purchase account only
• B. Errors affecting only accounts
• C. Errors affecting any one account
• D. Errors affecting only balance sheet

Answer 1

Answer: (C)

Errors affecting any one account

Accounting errors can be classified as:

1) Error of principle

2) Error of omission

3) Error of commission

4) Compensating error

These errors further can be classified as single sided error and double sided error. Error which are affecting one side of the transaction will affect the trial balance. When an error affect two accounts,it is said to be called double sided error.