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GCE Financial Accounting 1989 Question 10

Question 10

Correction of Errors and Suspense Account

A sales for ₦2,570 was recorded in the Day Book as ₦2,750. The error committed was

  1. A.compensating error
  2. B.error of omission
  3. C.error of principle
  4. D.error of original entry
  5. E.error of transposition.
Show the answer and explanation

Answer: D (error of original entry)

Explanation

The wrong figure was entered in the book of original entry, so both ledger entries carry it: an error of original entry.