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Question
Purchase of office furniture of Rs.2,000 has been debited to office expense account. This is an error of
Purchase of office furniture of Rs.2,000 has been debited to office expense account. This is an error of
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Solution
The correct option is C principle
It is an error of principle because it has to be debited to asset account and not expense account.
It is an error of principle because it has to be debited to asset account and not expense account.
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