Rs.75,000 received from Mrs Sharma however this transaction was not recorded in cash journal. This is an error of_________.

Principle

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Omission

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Commission

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Compensating

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Omission
The errors of omission may be committed at the time of recording the transaction in the books of original entry or while posting to the ledger. They are of two types:
(i) error of complete omission
(ii) error of partial omission
When a transaction is completely omitted from recording in the books of original record, it is an error of complete omission. For example, Rs. 75,000 received from Mrs. Sharma is not recorded in cash journal, is an error of complete omission.

Suggest Corrections

Similar questions

Rectify the following errors-

1) Goods returned to Mr Pathak as they were defective Rs 280 were not recorded in the books.
2) Commission received Rs 625 was recorded in the Journal proper but not posted at all.
3) Purchased Machinery from Hindustan Machinery Ltd. Rs 9,900 on credit was omitted from the books of accounts.
4) Additional capital Rs 20,000 introduced by proprietor in to the business was recorded in the cash book but was not posted to the capital account in the ledger.
5) Cash received from the Patel Rs 3,300 though recorded in cash book was not posted to his personal account in the ledger.
6) Goods sold to Kishor Rs 6,565 on credit was not posted to his personal account.

An amount of Rs 20,000 was received from Mr. X for the goods he purchased on credit but at the time of recording the transaction, Rs 20,000 was credited to the account of Mr. Y. Which type of error is this?

Rectify the following errors

(i) Depreciation provided on machinery Rs. 4,000 was not recorded.

(ii) Bad debts written-off Rs. 5,000 were not recorded.

(iii) Discount allowed to a debtor Rs. 100 on receiving cash from him was not recorded.

(iv) Bills receivable for Rs. 2,000 received from a debtor was not recorded.

Q. A return of goods worth Rs. 5,600 was not recorded. This is an example of error of __________.

Q. Cash received from Karim Rs 6,000 posted to Nadeem. This is the error of .........
State the wrong entry recorded in the book of accounts

Correct effect should have been

The rectification entry will be

Join BYJU'S Learning Program