When the amounts are placed on the correct side of the trial balance but in wrong accounts, then it is called errors of .

omission

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commission

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principle

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compensation

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Solution

The correct option is C principle
When the amounts are placed on the correct side of the trial balance but in wrong accounts, then it is called errors of principle. These errors will not affect trial balance.

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Similar questions

In case of Errors of Principle, there is no effect on the Trial Balance as the amounts are placed on the correct side of the Trial Balance though in wrong accounts. Is the above statement correct?

Errors of commission of posting of wrong amounts in both the accounts can be revealed by Trial Balance. Is this statement correct?

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.

When an amount is posted on the wrong side, is this error revealed by Trial Balance?

Q. If an amount is posted in the wrong account/wrong side/wrong amount/wrong total the resultant error is called error of _______.

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When the amounts are placed on the correct side of the trial balance but in wrong accounts, then it is called errors of .

The correct option is C principleWhen the amounts are placed on the correct side of the trial balance but in wrong accounts, then it is called errors of principle. These errors will not affect trial balance.

The correct option is C principle
When the amounts are placed on the correct side of the trial balance but in wrong accounts, then it is called errors of principle. These errors will not affect trial balance.