When the full transaction is omitted from the books of account, it is knows as errors of .

commission

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omission

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principle

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compensation

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Solution

The correct option is B omission
When the full transaction is omitted from the books of account, it is knowns as error of omission. These errors will not affect the trial balance.

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Similar questions

Wherein the full transaction is omitted from the books of accounts, it is known as:

If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

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