Question

If a company fails to record an entry for a transaction

Q: If a company fails to record an entry for a transaction entirely, this is an example of:

ErrorsofomissionoccurwhenatransactionisnotrecordedatallinthebooksofaccountsThiscanhappeniftheentryismissedleadingtoanincompleterecordoffinancialactivities

entirely, this is an example of:

A Compensating errors

B Errors of commission

C Errors of principle

D Errors of omission

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Relevant for Exams:

UPSC EO/AO

Question

If a company fails to record an entry for a transaction

Solution

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