What is the difference between an error of commission and an error of omission?
What is the difference between an error of commission and an error of omission?
The difference between an error of omission and an error of commission are:
BASIS FOR COMPARISON
ERROR OF OMISSION
ERROR OF COMMISSION
Reason of occurrence
Mistake
Carelessness, negligence, or lack of knowledge
Meaning
The error of omission is when a transaction is not recorded in the account books, in whole or in part.
The error of commission is when there is an incorrect recording of transactions in the account books.
Agreement of trial balance
Agrees in case of complete omission and disagrees in case of partial omission.
May or may not agree.
Rectification
Simply correct the entry made.
Debit/Credit the wrong account and post it to the correct account.
Also see: Errors of Omission
The difference between an error of omission and an error of commission are:
|
BASIS FOR COMPARISON |
ERROR OF OMISSION |
ERROR OF COMMISSION |
|
Reason of occurrence |
Mistake |
Carelessness, negligence, or lack of knowledge |
|
Meaning |
The error of omission is when a transaction is not recorded in the account books, in whole or in part. |
The error of commission is when there is an incorrect recording of transactions in the account books. |
|
Agreement of trial balance |
Agrees in case of complete omission and disagrees in case of partial omission. |
May or may not agree. |
|
Rectification |
Simply correct the entry made. |
Debit/Credit the wrong account and post it to the correct account. |
Also see: Errors of Omission
