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Examples of NPO

Rs.5500 incur...

Question

Rs.5500 incurred on sundry expense inadvertently recorded in the books of account as Rs.550. This is an example of ..........

A

fraud

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B

error of commission

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C

error of principle

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D

compensatory error

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Solution

The correct option is A error of commission
Error of commission means when there is error in totaling or posting of the transaction.

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