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JAMB Principles of Accounts 1999 Question 4

Question 4

Correction of Errors and Suspense Account

A bookkeeping error occurs when there is

  1. A.a deliberate manipulation of records
  2. B.unintentional correct posting in the ledger
  3. C.intentional failure to record transactions completely
  4. D.incorrect records and oversights that are not intended.
Show the answer and explanation

Answer: D (incorrect records and oversights that are not intended.)

Explanation

An error is an unintended mistake; deliberate manipulation is fraud.