Multiple Choice Questions on Provision for bad amp doubtful debts is inadequately noted Such an error is of which type ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Provision for bad amp doubtful debts is inadequately noted Such an error is of which type ........

General Accounting Principles Accounting cycles
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Provision for bad & doubtful debts is inadequately noted. Such an error is of which type

 Error of commission

Incorrect Answer

Error of omission

Incorrect Answer

Compensating error

Incorrect Answer

Error of principle

Correct Answer
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Explanation:

Provision for bad & doubtful debts is created to find out the anticipated losses that can occur due to insolvency of the debtor. This is a provision taken under the head liability which is inadequately noted hence error of principle.

Let's Discuss

akshay ghosh

It is error of partial omission

0 0 reply

NIHARIKA WALIA

Since the provision is inadequately created hence it is an error of principle.

 0 0 reply
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