Classification of Errors

IMPORTANT

Classification of Errors: Overview

This topic covers concepts, such as, Compensating Errors, Errors of Principle, Errors of Commission and Errors of Omission etc.

Important Questions on Classification of Errors

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Accountancy>Trial Balance and Rectification of Errors>Classification of Errors> Q 1

Discuss the difference between errors that affect the trial balance and those that do not.

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Accountancy>Trial Balance and Rectification of Errors>Classification of Errors> Q 2

How do compensating errors affect the trial balance?

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Accountancy>Trial Balance and Rectification of Errors>Classification of Errors> Q 3

What are errors of principle? Provide examples.

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Accountancy>Trial Balance and Rectification of Errors>Classification of Errors> Q 4

Define errors of omission and how they impact accounting records.

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Accountancy>Trial Balance and Rectification of Errors>Classification of Errors> Q 5

What are errors of commission? Give examples.

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Accountancy>Trial Balance and Rectification of Errors>Classification of Errors> Q 6

Explain the types of errors that affect the trial balance.