Total of Sale Book was not posted to the ledger. What is the kind of e
Right Answer is: A
• Error of Compensation- This type of accounting errors offset other
• Error of Principle – This type of accounting errors occurs due to entry of a transactions in incorrect account by violating fundamental
principles of accounting. For example a credit purchase of machinery of recorded in purchase book instead of journal proper.
• Error of Omission- This type of accounting errors occurs as a result of
Action not taken (non-recording of entry). For Example total of Sale Book was not posted to the ledger.
• Error of Commission- This type of accounting errors occurs due to
Incorrectly recorded transactions. For example amounting is incorrectly recordeD.