Explanation:

- Errors of Commission: These occur when a transaction is recorded, but one or more elements within the entry are misstated. This could mean recording the wrong amount or posting to the incorrect account.

- Errors of Omission: These happen when a transaction is either completely or partially not recorded in the books. It can involve entirely missing a transaction or omitting a necessary component of it.

- Correct Answer: Errors of Omission

- Compensating Errors: These occur when two or more errors counterbalance each other, resulting in no effect on the trial balance's net total.

- Errors of Principle: These involve recording transactions in violation of accounting principles. An example is treating a revenue expenditure as a capital expenditure, or vice versa.