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JAMB Principles of Accounts 1997 Question 9

Question 9

Correction of Errors and Suspense Account

Erroneous rearrangement of financial figures such as writing ₦624 as ₦264 is called

  1. A.transposition
  2. B.principle
  3. C.commission
  4. D.omission.
Show the answer and explanation

Answer: A (transposition)

Explanation

Swapping the order of digits in a figure is an error of transposition.