Rectification of which types of errors requires opening of suspense A/c?

Errors of principle.

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Complete omission.

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Partial omission.

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Errors of commission.

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Solution

The correct option is C Partial omission.
Partial omission of any transaction affect the agreement of trial balance. The difference in trial balance will be parked by opening suspense account. All such rectifications are passed through suspense a/c. Suspense account finally should not have any balance.

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Similar questions

Q. What is the difference between errors of commission and errors of omission?

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. Which of the following errors is an error of omission?

Q. Which of the following error is an error of omission?

Q. Which of these errors or omission are part of Bank Reconciliation?

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