Multiple Choice Questions on Purchase of goods from X has been recorded as purchase of machinery from X which type of error is it........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Purchase of goods from X has been recorded as purchase of machinery from X which type of error is it...........

General Accounting Principles Rectification of Errors
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    Purchase of goods from X has been recorded as purchase of machinery from X. which type of error is it

    Error of Principle

    Correct Answer

    Error of commission

    Incorrect Answer

    Clerical error

    Incorrect Answer

    None of above

    Incorrect Answer
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    Explanation:

    An error which records expenses as assets or assets as expenses is termed as error of principle.

    By: Munesh Kumari
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